Shimamura announced that it will acquire 21 apparel stores operated under KORUMOPIA by Summit, a Sumitomo Corporation subsidiary. The acquisition price has not been disclosed, and the stores will be converted to Shimamura stores sequentially from January 2027.
Shimamura announced the acquisition of 21 stores from KORUMOPIA, Summit's apparel business. The acquisition price has not been disclosed, and the conversions are scheduled to take place sequentially from January 2027.
Summit and Shimamura entered into an agreement dated the 6th for the transfer of operating rights and certain assets relating to the 21 stores. KORUMOPIA operates more than 30 stores in the Tokyo metropolitan area, including Tokyo, Kanagawa and Saitama prefectures.
Shimamura said it plans to use the acquired stores to strengthen its group-wide network of approximately 2,200 stores and expand its presence in the Tokyo metropolitan area.
The impact of the acquisition on consolidated results for the fiscal year ending February 2027 is expected to be minor.