This release is to announce that Irohanihoheto Co., Ltd., which is a newly-established SPC, a portfolio company of J-STAR No.3 SS, LP, etc. funds that J-STAR provides investment-related services to, has acquired Echigoya Co., Ltd. (the “Echigoya” Headquarters: Minato-ku, Tokyo, Company Representative: Mr. Kazuhiro Ebato).  Irohanihoheto will operate as the holding company of Echigoya going forward.

Since its establishment in 2005, Echigoya, led by President Ebato, has developed various unique restaurants brands. Echigoya, the charcoal-grilled dried-fish izakaya-restaurants, Shinpachi Shokudo, the fast-casual restaurants which provide charcoal-grilled dried fish, Yamatoya, the fresh-fish restaurants, Jiromaru, the standing-style yakiniku (Korean BBQ) restaurants, and POTA PASTA, the homemade pasta restaurants are the brands.  To optimize the allocation of business resources, Echigoya has decided to split the company into two groups through the demerger, which leaves Japanese cuisine brands (currently consist of Echigoya and Shinpachi Shokudo) at Echigoya, the split company.

Post-demerger Echigoya is going to mainly serve charcoal-grilled dried-fish meals to a wide range of customers in the central business districts in Tokyo at attractive prices.  Mr. Ebato will be the representative director of the holding company and continue to lead the business development as well as the store expansion.  Through our capital commitment to the company, we are going to provide support for Echigoya, which aims for further growth by capturing demand for the casual eating-out market in Japan and acceleration of the franchise strategy.

We retained RECOF Corporation, KPMG FAS Co., Ltd. and Mori Hamada & Matsumoto for the execution of the transaction.

*J-STAR Co., Ltd. provides investment related services to, from directly or indirectly through a wholly-owned subsidiary, J-STAR No.3 SS, LP, etc, providing researches about investment opportunities, as well as other investment related services such as training to portfolio companies.

Announcement of Acquisition of Shares in Echigoya