Making 小田喜商店 a Subsidiary and Strengthening the Chestnut Processing Business and Regional Brands

「While leveraging Odaki Shoten's strengths, we will establish a support structure through the sharing of our management expertise and our support platform for small and medium-sized enterprises. We will work as one group to achieve further growth for both companies and to further enhance the brand strength of “Iwama no Kuri” in Kasama, Ibaraki Prefecture, Japan's leading chestnut-producing region.」

「Although some domestic manufacturing subsidiaries struggled as soaring raw material and energy prices increased manufacturing and procurement costs, sales and profit exceeded the same period of the previous year due to the recovery in sales following the easing of restrictions related to measures against COVID-19, as well as the addition to the group of 十二堂株式会社 and 株式会社小田喜商店, which were newly acquired through M&A.」

「We decided to acquire the shares of Odaki Shoten because we were attracted by its high-value-added products, procurement capabilities that enable it to stably source high-quality locally produced chestnuts, advanced manufacturing technology covering the entire process from procurement through processing to final products, and the appeal and significant potential of Japanese chestnuts as a food ingredient. While leveraging Odaki Shoten's strengths, we will establish a support structure through the sharing of our management expertise and our support platform for small and medium-sized enterprises. We will work as one group to achieve further growth for both companies and to further enhance the brand strength of “Iwama no Kuri” in Kasama, Ibaraki Prefecture, Japan's leading chestnut-producing region. Date of business combination: 31 August 2022; voting rights acquired: 100%.」