This is to announce that our wholly managed and operated investment fund, J-STAR Number One Investment Limited Partnership, has signed a contract to sell all of its shares of Olive des Olive K.K. (Headquarters: Shimokyou-ku, Kyoto, Company Representative: Nobuhiko Uchino, http://www.olivedesolive.tv/) to Takisada-Osaka Co., Ltd. Group (Headquarters: Osaka-shi, Osaka, Company Representative: Ryuta Taki, “Takisada-Osaka”, http://en.takisada-osaka.co.jp). Through the vision of “Live Cute”, Olive des Olive (hereinafter, “Olive”) has focused on expansion of its core brand of women’s clothing and developed a strong customer base. They have been aggressively expanding into Asia by actively promoting their business in China through its wholly owned subsidiary, Olive des Olive Shanghai (Headquarters: Shanghai, http://www.olivedesolive-sh.com), and beginning sales in Taiwan.
Takisada-Osaka Co., Ltd. is a leading textile trading company with a nearly 150-year history, and has established a strong domestic position in the textile products and raw materials business. They have recently focused on aggressive business development in the Asian markets with a focus on China.
By joining Takisada-Osaka Co., Ltd. Group, Olive can take advantage of Takisada-Osaka’s tangible and intangible assets, including their network in the apparel industry and strong reputation backed by its credit worthiness, which we believe will contribute to further acceleration of the growth of Olive’s business in Japan and throughout Asia.
In concluding this contract, we enlisted the assistance of Macquarie Capital Securities (Japan) Limited as financial advisors and Baker & McKenzie (Gaikokuho Joint Enterprise) as legal advisors.