This document has been prepared in accordance with accounting principles and practices generally accepted in Japan, and translated for reference only from the original Japanese version. The Company gives no warranty with respect to its correctness.
The original disclosure in Japanese was released on November 19, 2024 at 15:30 (GMT+9)
Takara Holdings Inc.
Notice Regarding Completion of Acquisition of Membership Interest
in Japanese Food Wholesalers in Germany
Takara Holdings Inc. (the “Company”) hereby announces that Takara Shuzo International Co., Ltd. (“Takara Shuzo International”), a subsidiary of the Company, resolved at the Board of Directors meeting held on November 19, 2024, to acquire 90% of the membership interest in Kagerer & Co.GmbH (“Kagerer ”).
1. Reason for Acquiring Interests
The Takara Group is moving forward with initiatives to achieve its six-year long-term management vision, TaKaRa Group Challenge for the 100th (TGC100), which ends in the fiscal year ending March 31, 2026 and upholds the Takara Group’s vision “Smiles in Life ~ Smiles are Life’s Treasures ~.” As a conclusion to TGC100, we established the TaKaRa Group Medium-Term Management Plan for 2025 with a management policy to increase enterprise value over a three-year period by accelerating investments in growth and high-priority fields*. Based on the plan, the Takara Shuzo International Group has striven to expand Japanese food wholesale sites in North America and Europe.
Kagerer has established a solid position in Germany and Europe as a food wholesaler that handles rice, seasonings, and Japanese sake, with a particular strength in marine products such as frozen seafood procured from around the world. Germany has the largest economy and population (84 million) of any EU member state, making it an attractive market for Japanese food. The 2023 export value of food and agricultural, forestry, and fishery products from Japan to Germany has expanded by 161.1% compared to 2019 (146.5% for the EU). Germany also has an estimated 1,220 Japanese restaurants, the fourth largest number in Europe.
With Kagerer as our consolidated subsidiary, the Takara Group will be able to build a strong business foundation across the German market. Additionally, we can accelerate the opening of new markets in Eastern and Northern Europe and other areas, and achieve dynamic growth in our Japanese food wholesale business, starting in Germany, by utilizing the network of business partners the company has developed in other European countries.
Global interest in Japanese foods is rising on the back of expansion in the global market for Japanese foods mainly as a result of the growing number of health enthusiasts in recent years. The Takara Group will further strengthen sales of Japanese alcoholic beverages and build a wholesale network for Japanese foods to actively expand business, as it strives to enhance its corporate value and spread washu and Japanese food culture.
*growth and high-priority fields
Takara Shuzo：Enhance the safety and security of production systems; develop and nurture "hit" products; focused brand development
Takara Shuzo Int’l Group：Expand food wholesale sites in North America and Europe; expand Washu (A general term for Japanese traditional alcoholic beverages under the Liquor Tax Act such as refined sake, shochu, and mirin, including innovative Japanese alcoholic beverages that incorporate Japanese elements)
Takara Bio Group：Expand the reagents and equipment business; expand the CDMO (contract development and manufacturing organization) business; maximize the value of drug discovery platform technologies
2. Overview of Kagerer
| (1) | Name | Kagerer & Co.GmbH | ||||||||||||||||||||||||
| (2) | Location | Feldkirchen district near Munich, Germany | ||||||||||||||||||||||||
| (3) | Representative | Friedrich Kagerer, Managing Director | ||||||||||||||||||||||||
| (4) | Business | Import and sales of seafood, Japanese and Asian foods and seasonings | ||||||||||||||||||||||||
| (5) | Capital | 30 Thousand Euro | ||||||||||||||||||||||||
| (6) | Established | January 4, 1971 | ||||||||||||||||||||||||
| (7) |
Membership interest holders and percentage of interest held |
Friedrich Kagerer 70％, and others | ||||||||||||||||||||||||
| (8) |
Relationships between the listed company and the said company |
（Capital relationship） There is no applicable relationship. （Personnel relationship） There is no applicable relationship. （Transaction relationship）There is a transaction relationship between Kagerer and Foodex, Cominport consisting of the purchase and sale of products. |
||||||||||||||||||||||||
| (9) | Number of employees | 103 employees as of September 30, 2024 | ||||||||||||||||||||||||
| (10) | Fiscal year-end | December 31 | ||||||||||||||||||||||||
| (11) | Operating performance and financial position over the past three years |
Units: Thousand Euros
|
3. Overview of Takara Shuzo International
|
(1) |
Name |
Takara Shuzo International Co., Ltd. |
|
(2) |
Location |
20 Naginataboko-cho, Shijo-dori Karasuma Higashi-iru, Shimogyo-ku, Kyoto Japan |
|
(3) |
Representative |
Minori Mori, Representative Director and President |
|
(4) |
Business |
Management of group companies, and export and sale of alcoholic beverages, seasonings, etc. |
|
(5) |
Capital |
10 million yen |
|
(6) |
Established |
July 3, 2017 |
|
(7) |
Principal shareholders and percentage of shares held |
Takara Holdings Inc. 100% |
4. Membership interest to be acquired and ratio of membership interest held before and after the acquisition
|
(1) |
Ratio of membership interest owned before transfer |
0% |
|
(2) |
Membership interest to be acquired |
90.0% |
|
(3) |
Acquisition costs | 111,240 Thousand Euros |
|
(4) |
Ratio of membership interest owned after transfer |
90.0% |
5. Impact on Earnings
The impact on the consolidated business results for the fiscal year ending March 31, 2025 is expected to be immaterial.
