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  • Date Type Details
    June 2022 Transfer of Business A case of a Japanese-style hotel with famous restaurant in a region affected by the coronavirus, which was transferred to a major real estate hotel developer. This allowed the transferee company to solve the business succession problem as well, and the transferee company acquired a business opportunity by planning to redevelop using rare assets.
    May 2022 Acquisition of Shares A case in which an investment fund acquired a business company engaged in personal services from other investment fund. The buyer aimed to further expand the target company's profits by developing businesses that take advantage of the fund's characteristics.
    April 2022 Acquisition of Shares/Share Exchange A listed company engaged in system development acquired an unlisted company in the same industry. The listed company took a step forward to achieve its business plan as early as possible, and the owner of unlisted company was able to carry out a business succession smoothly while reassuring employees in his company.
    March 2022 Acquisition of Shares A case which a representative of the building materials parts company executed a management buyout (MBO). The seller has achieved a smooth business succession, and the management team as the buyer will be able to work together to achieve business growth.
    February 2022 Acquisition of Shares The company owner sold a system development company to an investment fund. The buyer aimed for further growth of the company through synergies with other investment partners and the provision of resources that the target company lacked, and the seller was able to smoothly carry out the business succession.
    December 2021 Capital Participation A listed company engaged in the marketing services business conducted a third-party allocation of new shares to an overseas investment company. The listed company was able to raise working capital, research and development funds, and business expansion funds by this deal.
    October 2021 Acquisition of Shares A unlisted company operating a food service consignment business has acquired a listed non-core group company. As a result, the buyer was able to expand its customer base in the region, while the seller was able to select and focus its business.
    August 2021 Acquisition of Shares A real estate-related listed company transferred a non-core business engaged subsidiary to an unlisted company engaged in diversified management. As a result, the listed company has achieved to select and concentrate their businesses.
    June 2021 Acquisition of Shares A case in which an individual who operates multiple companies acquired a human resources service company that operating by an investment fund. Buyer aim to share resources with his other companies and leverage the know-how that accumulated in the business management to further grow the company, and sellers achieved an exit.
    May 2021 Acquisition of Shares A listed company sold its subsidiary's group hotel operator to an investment fund. The group has achieved a curtailment of unprofitable noncore business and also succeeded business to a leading company. The buyer will seek to increase the value of long-established hotels by making use of the resources and know-how of existing hotel operators.
    November 2020 Capital and Business Alliance A case where an unlisted consumer goods manufacturer has entered into a capital and business alliance with a listed company in the same industry. Based on the growth capital, the seller aims to increase corporate value through synergistic effects that utilize the resources of both parties.
    October 2020 Acquisition of Shares A case in which a group business company developing the real estate business acquired a financial services business company in order to enter a new business. As a result, operating companies developing the real estate business achieved a synergistic entry into the financial industry, and shareholders of financial services operating companies were able to obtain investment recovery opportunity.
    October 2020 Capital Participation A case in which a listed company engaged in the personal service business implemented a capital increase through third-party allotment with an investment fund as the allottee. Through a capital tie-up with an investment fund, the listed company will obtain funds for business expansion through propelling project development, marketing enhancement and M&A. The listed company will also strengthen the financial base that has been a management issue due to financial restructuring.
    October 2020 Transfer of Business A case where an unlisted paper manufacturer company sold a part of its business to the same industry player. The seller was able to use the collected funds to improve the financial condition, and the buyer was able to expand into uncultivated business field.
    August 2020 Acquisition of Shares A case where a company that designs and sells lighting-related products acquired an unlisted company that designs optical lighting. The buyer succeeded to obtain manufacturing know-how in addition to the target's company's design and sale business which enhances their product proposal skill thought this acquisition. The seller succeeded in the business succession and also aimed to improve the corporate value of the target company by concentrating on the development and design work of the target company.
    June 2020 Transfer of Business A case where a company that runs a nursing care business has taken over the nursing care business from the same business. The transferee company exerted a synergistic effect with the existing business and promoted a dominant strategy. Then, the seller company was able to concentrate its management resources by separating the non-core business.
    February 2020 Absorption-type Company Split An unlisted company that imports, exports, designs and manufactures industrial equipment sold all those businesses to the management team through an absorption-type split. As a result, the founding family received the profits of the founder, and the management team had been able to aim for further grow by establishing the business foundation.
    December 2019 Acquisition of Shares A listed company operating a commodity futures trading business conducted a TOB of treasury stock. The buyer/the bidder was able to purchase shares from the largest shareholder while restructuring the capital structure and achieved to return profits to the shareholder.
    November 2019 Absorption-type Company Split A case where a company operating a real estate management business transferred a part of the parking lot management business to an industry peer. This allowed the assignor company to separate its non-core business while the assignee company was able to expand its core business, the parking lot management business.
    October 2019 Transfer of Business A case in which a retail company has acquired a character goods sales business from another retailer through a business transfer. The assignee company was able to exert synergies with existing businesses while the assignor company was able to concentrate management resources by separating its non-core businesses.
    September 2019 Acquisition of Shares A case where an unlisted company that develops cloud-based software executed a management buyout (MBO). The seller accelerates investment in the main business, and the management team/the buyer aims to grow the business rapidly as an independent capital corporate entity.
    August 2019 Acquisition of Shares A case where an unlisted consumer goods manufacturer has acquired an unlisted startup in the same industry. The buyer was able to expand their product lineup and sales channels while the seller was able to use the proceeds of the sale to invest in another business.
    July 2019 Merger A listed wholesaler decided to merge subsidiaries to restructure its group businesses. By consolidating group companies in the same business segment, the new integrated company can build a comprehensive strength while aiming for further growth in the business segment.
    June 2019 Acquisition of Shares A case in which an unlisted investment company acquired shares of an unlisted parts manufacturer and made it a wholly owned subsidiary. The buyer is able to increase the corporate value as the parts manufacturer, and the seller can focus on its business by implementing “selection and concentration”.
    June 2019 Acquisition of Shares A case where a management consulting firm acquired an unlisted apparel company. The seller was able to achieve both business succession and continuation of business.
    March 2019 Acquisition of shares A niche parts manufacturer conducted EBO (employee buyout). The seller was able to achieve smooth business succession as well as to accelerate business selection and concentration.
    February 2019 Acquisition of Shares A listed company group which operates IT solutions business purchased an unlisted company of IT equipment trading firm. By strengthening their business areas, the purchasing company group will accelerate their mid-and-long-term growth of the company.
    December 2018 Business Restructuring/Acquisition of Shares An investment fund acquired an unlisted restaurant chain company. As a result, the owner of the restaurant company was able to attain the founder's profit and smoothly pass over the business to its successor. The investment fund would cooperate with the restaurant company owner stabilizing the infrastructure as well as accelerating the expansion of chains to improve enterprise value of the company.
    September 2018 Capital Participation An unlisted corporate healthcare service company received an additional investment from medical professionals, which is the business partner, and medical professionals were able to acquire management rights from this deal. As a result, the company was able to improve its financial health from this deal. By acquiring management rights of the company, the medical professional were to get the synergy effect through this deal that would promote and accelerate their original medical business.
    December 2018 Capital Participation A venture company, which manufacture and sell healthcare products that have breakthrough efficacy, received an additional investment from investors. As a result, the venture company was able to raise funds for the company growth and is willing to improve the enterprise value of the company.
    August 2018 Acquisition of Shares A listed real estate developer consolidated a business and capital alliance with a listed company which involves in the public services business. By tieing up with a public service company, the real estate developer was able to gain an opportunity for the undeveloped area and get even more chance to expand their business. The public service company was able to improve their real estate development capabilities that would lead to an increase in the estate value they hold. As a result of the alliance, both companies were able to generate synergies that would lead to the growth of the revenue.
    August 2018 Share Option Issue A listed company which manufactures life-related products issued share options against investment fund. By promoting the capital investment process step-by-step, the purchasing company was able to minimize the effects of existing investors. In addition, by devoting raised funds into the development of new products and production facilities, the company could improve the company performance.
    August 2018 Acquisition of Shares The investment fund sold the company, which manufactures home electrical appliance and hand tool, to the consortium of electronics manufacturer and financial institutions. As a result, the investment fund was able to retrieve the capital on their investment. The purchasing company was able to generate new synergy with their existing business and the company would restructure the business structure as well as improve the enterprise value."
    August 2018 Business Restructuring/Acquisition of Shares By using company split, a listed company which runs a chain of pharmacies acquired the pharmacy business from the company which operates pharmacy and drug-related businesses. The purchasing company was able to promote strategic dominance through operating area and the selling company was able to promote the selection and concentration of the business.
    April 2018 Acquisition of Shares A listed company which involves in manufacturing and selling medical products acquired the subsidiary of listed company in the same industry. At the same time, the business alliance between the two companies were announced, aiming to generate the new synergies. As a result, the purchasing company was able to attain the scale of the business to compete in the market as well as generating synergies in terms of the business alliance.
    April 2018 Acquisition of Shares A listed company which involves in construction business purchased an unlisted company of landscaping contracting business. By expanding customer base of the market and enhancing the line-up of commodities, the purchasing company could aim for the better profitability. The selling company was able to smoothly pass over the business to its successor.
    March 2018 Absorption-type merger An unlisted company which operates application development, utilization of the cloud service, and agency of IT skilled engineer purchased an unlisted game development company. As a result, the two companies were able to integrate their business together to improve the operational efficiency and increase their profit.
    February 2018 Acquisition of Shares A listed fabric company acquired an unlisted company which manages retail stores. As a result, the purchasing company was able to integrate its manufacturing business and retail business. The selling company was able to smoothly pass over the business to its successor.
    January 2018 Acquisition of Shares An unlisted company which engages in building maintenance business acquired an unlisted profession company. The purchasing company was able to expand the customer base of the market and make completion of the technologies. The owner of the selling company was able to smoothly pass over the business to its successor.
    January 2018 Business Restructuring/Acquisition of Shares A listed company which involves in IT material wholesale and manufacture sold the golf course business which is a non-core business to a golf course management company. As a result, the selling company was able to select and focus on the other businesses. The purchasing company was able to strengthen the foundation of the sales by the business cooperation between nearby golf course they own.
    December 2017 Acquisition of Shares A listed company which operates recruit agency acquired an unlisted profession company. As a result, the listed company was able to secure highly skilled engineers and attain the customer base of the new market. The owner of the selling company was able to smoothly pass over the business to its successor.
    November 2017 Transfer of Business A listed company which involves in mobile phone business acquired the business from an unlisted company in the same profession. As a result, the purchasing company was able to expand its business into the new market area and the selling company was able to retrieve the capital investment.
    October 2017 Transfer of Business A listed company which deal commodity future trading acquired the business from an unlisted company in the same profession. As a result, by consolidating its client, information, and sales know-how, the purchasing company was able to improve the operational efficiency and increase its revenue.
    September 2017 Acquisition of Shares An investment fund acquired an unlisted restaurant chain company. As a result, the owner of the restaurant company was able to attain the founder's profit as well as the operational and financial support that is essential for the development of the company. The investment fund would cooperate with the restaurant company owner stabilizing the infrastructure to promote the growth of the restaurant company.
    August 2017 Transfer of Business A listed retail business company acquired the business from an unlisted company. As a result, a listed company group (purchasing company)was able to expand the sales territory and improve the revenue by replenishing the inventory and enhancing the service. The selling company was able to retrieve the capital investment by selling their business.
    July 2017 Acquisition of Shares The owner of the health care equipment sold its shares to the listed company which operates the environmental business. As a result, the selling company was able to adjust the asset management by selling its shares. The purchasing company was able to acquire shares from minority shareholders leading to fully owned subsidiary company and was able to strengthen the group management.
    May 2017 Acquisition of Shares The company which operates the business for the affluent purchased the unlisted publishing company. The purchasing company was able to generate the business synergies by reaching to the readers of the publishers. The selling company was able to retrieve the capital investment.
    June 2017 Acquisition of Shares An unlisted company which operates the app and web system development and IT stuff agency business purchased unlisted game developing company. As a result, the purchasing company was able to strengthen their game development sector. The selling company was able to attain the capital support and focus on game development which is the main business.
    April 2017 Absorption-type Company Split/Acquisition of Shares A listed restaurant chain company used a company split to transfer the Japanese restaurant chain management business to a listed restaurant chain management company of the profession. As a result, the selling company was able to focus its management resources on its main business. The purchasing company was able to generate synergies of purchasing food materials and integrating logistics as well as expanding into new business.
    March 2017 Acquisition of Shares An unlisted machinery manufacturer company was sold to an investment fund. As a result, the owner of an unlisted company was able to smoothly pass over the business to its successor and gain founder's profit. The investment fund was able to make an investment into niche industry.
    March 2017 Acquisition of Shares An unlisted company which operates the hydroponic business of vegetables was sold to the group company of the industry fields which manage an environmental and agricultural business. As a result, the original owner of the unlisted company was able to keep the continuation of employment and the conversion of all shares they hold into cash. The purchasing company owes to look for synergy with their own group company to improve enterprise value as a whole group.
    February 2017 Transfer of Business An unlisted company which provides service for airlines sold the business service to an unlisted company from the same industry. The selling company was able to smoothly pass over the business to its successor and purchasing company was able to improve the efficiency of operations and increase the revenue.
    December 2016 Transfer of Business A listed company engaged in web application took over the business of sales and development of the package system for the service industry from a listed company. As a result, the purchasing company was able to expand the service line-up and the selling company was able to invest the capital it had secured into growing businesses.
    October 2016 Acquisition of Shares A listed system development company acquired some shares of unlisted company which involves in real estate leasing agency and real estate management. As a result, the two companies entered into a capital and business alliance and were able to strengthen their capital relationships that would allow a listed company to stable orders.
    September 2016 Absorption-type Company Split/Acquisition of Shares An unlisted restaurant chain management company used a company split to transfer the restaurant business focused in the Kansai region to a listed restaurant chain management company. As a result, the unlisted restaurant chain management company was able to strengthen its financial health while securing resources to invest in new businesses. The listed restaurant chain management company was able to complement its store locations while generating synergies in purchasing and logistics.
    August 2016 Acquisition of Shares/Merger A listed company which manufactures and sells medical products acquired an American medical products company listed on the Nasdaq by first issuing a takeover bid and subsequently merging with the company. As a result, the purchasing company was able to acquire a product pipeline and platform necessary for business development in new markets.
    August 2016 Absorption-type Company Spilt A major plumbing parts company used a business split to sell part of its business to a company in the same industry for stock considerations. As a result of this consolidation, the company was able to pursue synergies in manufacturing and sales in order to survive in a mature market. The company was able to create a system that provided products consistently to its clients.
    July 2016 Acquisition of Shares An investment fund sold its company which operated a platform for investee members to a company which operates a business in the reuse industry. As a result, the investment fund was able to recover its investment. The purchasing company was able to expand its business in the group by using the know-how from investee companies in the group’s business.
    June 2016 Acquisition of Shares An investment fund sold an electronics and industrial tool manufacturing and sales company it had invested in to another investment fund. The purchasing investment fund aimed to improve its value by providing investment and support to expand the company’s share in the overseas market.
    February 2016 Acquisition of Shares A company which dispatches IT engineers took over the online shopping business from an unlisted company. As a result, the purchasing company was able to expand the area of its business and the selling company was able to invest the capital it had secured into other businesses.
    November 2015 Acquisition of Shares An investment fund acquired the shares of a major Japanese company which provides lifestyle-related services from its founder. Along with its founder, the investment fund aims to accelerate the growth of this company and strengthen its operations base in order to transform it into one of the top companies in Japan.
    October 2015 Capital and Business Alliance A listed company which manufactures and sells audio-visual equipment entered into a capital and business alliance with another listed company in the same industry. As a result, both companies aim for improved results from synergistic effects in marketing new services and developing new products utilizing the strengths of each company.
    June 2015 Capital Participation An unlisted company which runs a personnel services business conducted a third-party allocation of shares underwritten by several companies including venture capital companies. As a result, the unlisted company was able to invest in businesses aside from personnel services, stabilizing their business and advancing their company into a new stage of growth.
    May 2015 Acquisition of Shares An unlisted company which processes and sells fresh food products was sold to a listed company which operates in the retail market throughout Japan. As a result, the owner of the unlisted company was able to find a successor for its business and the listed company was able to operate stores with higher added value.
    March 2015 Capital and Business Alliance A listed company which manufactures and sells audio-visual equipment acquired a subsidiary of another listed company which operates in the same industry, and entered into a capital and business alliance with this listed company. As a result, the purchasing company expects synergistic effects such as advantages of production scale and acquisition of overseas sales network. The selling company was able to select and focus on other businesses.
    February 2015 Transfer of Business An unlisted company which operates DIY stores sold its core business to a listed company in the same industry. As a result, the selling company was able to allocate resources to its other businesses while the purchasing company was able to make advancements in regions it had not covered previously.
    January 2015 Acquisition of Shares A listed company which operates a product sales business purchased an unlisted company which is involved in the planning and wholesale of packaging materials. As a result, the purchasing company was able to generate synergies and expand its business along with related businesses within the company group. The owner of the selling company was able to smoothly pass over the business to its successor.
    December 2014 Acquisition of Shares A company which develops and operates mobile phone applications took over by transfer a business in the same industry from an unlisted company. As a result, the purchasing company was able to acquire various personnel, from application planners to engineers. The selling company was able to reduce fixed costs and focus resources on its main business.
    November 2014 Acquisition of Shares A listed company which runs a business consulting firm purchased a publisher. As a result, the purchasing company was able to generate synergies in the e-commerce field in which it already held significant strength. The selling company was able to focus its management resources on its main business.
    October 2014 Acquisition of Shares A game production company purchased a restaurant business. As a result, the purchasing company was able to diversify its business while the selling company withdraw from an unprofitable business.
    October 2014 Absorption-type Company Spilt As part of an internal group reorganization, an industrial machinery manufacturing subsidiary of a listed commerce company group spun off one of the main businesses to its subsidiary by absorption-type company split. As a result, each of the group’s main business units took the form of a corporate organization, the range of authority and responsibilities in each company were clarified, and the group was able to reorganize the corporate structure which could meet the needs of its customers with greater agility.
    September 2014 Acquisition of Shares A foreign investment fund sold a precision parts manufacturer it had invested in to a metal products manufacturer. As a result, the foreign investment fund was able to recover its investment, and the metal products manufacturer was able to expand its scale by utilizing new sales routes and lower cost prices by integrating with its supplier.
    August 2014 Acquisition of Shares An unlisted company which runs a vendor business acquired a family-owned company from its owner which operates inspections of outdoor and indoor facilities. As a result, the purchasing company was able to enter into a new business field and utilize its company personnel. The individual owner who sold his company was able to increase assets through a sale of holdings while simultaneously finding an excellent company to succeed the business he had founded himself.
    July 2014 Business Alliance A materials-related subsidiary of a listed commerce company group entered into a business alliance with a listed materials manufacturer. As a result, the materials-related subsidiary was able to grasp how to improve its capability to provide products to its clients and thus gained a foothold in expanding its transaction base. The listed materials manufacturer gained know-how about providing products to new fields and learned how to improve the operation rate of previously unprofitable factories.
    July 2014 Capital Participation An angel investor who invests in venture companies invested in a venture company in the photographic market. As a result, the venture company was able to acquire capital to expand their start-up business and accelerate their growth.
    February 2014 Acquisition of Shares A real estate fund acquired shares of a general contracting company which operates both in Japan and overseas. As a result, the selling company was able to use its resources in other businesses while the real estate fund was able to expand its portfolio.
    March 2014 Acquisition of Shares A company which runs an internet advertising business bought a business in the same industry from a listed company group. As a result, the purchasing company was able to increase its services and employees while expanding its client base. The selling company was able to focus its management resources on its main business.
    February 2014 Acquisition of Shares A Japanese company sold its equity in a domestic joint venture company it had established with a foreign company. This joint venture company imports and sells special electronics equipment in Japan. As a result, after gaining knowledge about the products and utilizing this in its services, the Japanese company was able to invest the resources it gained by terminating the joint venture into new businesses. The foreign company gained marketing know-how through this joint venture which it used in its own business.
    January 2014 Acquisition of Shares The management of a publishing company acquired shares from the family members of the company founder and other shareholders who were not involved in the management of the company to complete a MBO (Management Buyout). As a result, the family of the company founder was able to solve the difficulties they were facing with the inheritance of assets. Also, the current management and the targeted company were able to achieve the separation of ownership from management from a corporate governance perspective, thus expanding the discretionary power of manager and reorganizing the management structure based on medium to long term visions.
    October 2013 Capital Participation A listed company involved in manufacturing and selling medical products invested capital in a South Korean company in the same industry. As a result, the listed company secured the ability to utilize cutting-edge technology on a consistent basis while the target company received support in accessing credit and was able to expand their business in the future.
    November 2013 Business Alliance A listed company which manufactures healthcare products entered into a business alliance with a Vietnamese company in the same industry. As a result, the listed company was able to receive support when it ventured into the Vietnamese market while the Vietnamese company was able expand its business further in Vietnam.
    December 2013 Company split/Acquisition of Shares A listed company involved in manufacturing and selling medical products carved out the factories of a listed company in the same industry by company split and acquired the shares of said succeeding company. As a result, the purchasing company was able to acquire personnel and strengthen its production capabilities while the selling company was able to focus its managerial resources.
    September 2013 Acquisition of Shares The management of an industrial parts manufacturer executed a MBO (Management Buyout). As a result, the company successfully redesigned their financial base and stabilized their capital, issues which had existed for several years. With this, the management was able to create a framework which could allow the company to strengthen its main business and improve the value of the company.
    August 2013 Acquisition of Shares A listed company which manufactures industrial machinery announced the acquisition of a listed company in the same industry by way of TOB. As a result, the purchasing company was able to expand its product lineup and strengthen its operation base both in Japan and overseas. The parent company was able to recover its invested capital while the target company expects to expand the realm of its business by becoming a subsidiary of the parent company in the same industry.
    July 2013 Acquisition of Shares A food products company sold its subsidiary which operates a healthcare business to a listed company specializing in that industry. As a result, the selling company was able to contribute to the further growth and development of its subsidiary while creating a cooperative relationship with the purchasing company. The purchasing company was able to further expand its operating base.
    June 2013 Transfer of Business An unlisted company which operates an educational business transferred its language training business to a listed company which operates a personnel services business. As a result, the selling company was able to smoothly transfer its non-core business to an outside entity while the purchasing company was able to find a foothold to expand the realm of its business by strengthening its training business and increasing its client base.
    May 2013 Acquisition of Shares The owner of an unlisted company group sold a company which operates a membership platform to a foreign investment fund. As a result, the owner was able to make a profit by exiting his equity of the company while the foreign investment fund was able to invest in a very promising business.
    May 2013 Acquisition of Shares An unlisted company which manufactures textile materials sold the shares of an affiliated company which manufactures non-woven fabric products to a listed wholesale company which sells household paper products. As a result, the selling company was able to exit from a non-core business while the purchasing company was able to strengthen its lineup of household products.
    May 2013 Transfer of Business An unlisted company which operates a business for restaurants sold its catering business to a company which operates in the same industry. As a result, the selling company was able to smoothly exit the business while the purchasing company was able to expand its client base.
    March 2013 Transfer of Business An unlisted electronics parts manufacturer sold its precision electronics parts manufacturing business to an unlisted company in the same industry. As a result, the selling company was able to smoothly transfer its client base while it moved resources to other businesses. The purchasing company was able to expand its client base.
    January 2013 Transfer of Business An unlisted company in the Chubu region sold its restaurant business which it operated in western Japan to an unlisted company operating in the same industry in the Tokyo Metropolitan area. As a result, the selling company was able to focus its managerial resources on other businesses while the purchasing company was able to strengthen its business by integrating managerial systems of existing businesses and expanding its area of operations.
    December 2012 Transfer of Business An unlisted company which operates an audio-visual business in the Kanto region transferred its main business to an unlisted company in the same industry which centers its operations around western Japan. As a result, the selling company was able to use resources in other businesses while the purchasing company was able to secure a larger share of the market and expand its area of operations.
    November 2012 Acquisition of Shares/Share Exchange A listed company whose core business is dispatching workers to the manufacturing industry and contracting projects purchased an unlisted company which operates a CRO (clinical research organization) business. As a result, the listed company was able to use the know-how from the highly specialized company it had purchased to strengthen its presence in existing fields while the unlisted company was able to acquire the resources which had been insufficient and use them for future growth.
    June 2012 Acquisition of Shares A foreign investment fund which mainly operates in Asia sold a welfare service company in Japan it had invested in to a major foreign company in the same industry which operates all over the world. As a result, the welfare service company was able to utilize the know-how of this major company in its industry and further improve its access to credit while the foreign investment fund was able to exit from the investment project. Also, the major foreign company was able to enter the Japanese market.
    July 2012 Joint Venture A Japanese company which imports and sells special electronics equipment established a joint venture company in Japan with a foreign company which manufactures the imported products. As a result, the Japanese company was able to expand their business by utilizing the resources of the manufacturer while the foreign company was able to make a full-scale entry into the Japanese market.
    October 2012 Absorption-type merger A listed company which provides consulting and system development services consolidated an unlisted company which had excellent results among Japanese companies in the internet marketing support field by absorption-type merger. As a result, the company was able to provide service solutions of an even high added value to the customers of both companies.
    April 2012 Acquisition of Shares A listed company which operates a personnel services business acquired a company which provides information to match job seekers with employers. As a result, the listed company was able to enter the job matching business which was closely tied to its existing businesses. The selling company was able to select and focus on its other businesses by selling this non-core business.
    May 2012 Acquisition of Shares A listed company which runs a system development business acquired an unlisted company which provides SEO (search engine optimization) services for the mobile-version of websites. As a result, the listed company was able to strengthen its business in the rapidly growing mobile device sector while the target company was able to find new opportunities for growth.
    February 2012 Capital and Business Alliance A listed electronics equipment manufacturer which operates across the world entered into a business alliance with an unlisted company which provides a logistics IT service. As a result, the listed electronics equipment manufacturer was able to make their proposed IT service solution a reality while the logistics IT service company was able to secure a stable source for hardware.
    March 2012 Acquisition of Shares A listed company involved in manufacturing and selling medical products acquired an unlisted company in the same industry. As a result, the listed company was able to expand its product lineup and increase production while the purchased company was able to ensure employment for its workers while expanding its business as subsidiary of the listed company.
    January 2012 Capital and Business Alliance A company which manufactures and sells medical products acquired the shares of another company in the same industry from its shareholders. As a result, the selling company was able to secure stable shareholders while the purchasing company was able to solidify the foundation of its business by entering in a capital and business alliance with the other company.
    December 2011 Capital and Business Alliance A company which runs a building maintenance business acquired the shares of a listed company in the nursing care industry from its shareholders. The building maintenance company was able to secure a business partner in the nursing care industry while the listed company was able to find long-term, stable shareholders without issuing floating shares.
    July 2011 Acquisition of Shares A company which operates a real estate development business filed for protection under the Civil Rehabilitation Act. This company sold its golf course operations company to another company which is involved in leasing real estate and operating golf courses. As a result, the real estate developer was able to secure capital to repay its debt while the purchasing company was able to expand the area of its golf course operations.
    September 2011 Business Alliance A listed company which is engaged in system development entered a business alliance with a real estate leasing agency company in order to have access to its website. The system development company was able to improve its value by using its website operations business as a new pillar of profit. The leasing company used this alliance to further develop the businesses of its company group as a whole.
    October 2011 Acquisition of Shares A company which operates a personnel services business acquired a company which runs foreign language-related services. As a result, the purchasing company was able to strengthen its similar service within its company group while the selling company was able to solve issues regarding succession of the company and progress to a new stage of growth.
    June 2011 Acquisition of Shares A golf course operations company owned by a general contractor which had filed for protection under the Civil Rehabilitation Act was sold to a company which operates golf courses all over Japan. As a result, the general contractor was able to sell its assets as required by the Civil Rehabilitation Act while the purchasing company was able to expand their business.
    June 2011 Acquisition of Shares A road paving subsidiary of a major general contracting company acquired a company which manages toll roads from an investment fund. By entering the road management field, the purchasing company aimed to expand its PFI (private finance initiative) and PPP (public private partnerships) business and its maintenance and repair business for road-related facilities which is expected show growth.
    March 2011 Acquisition of Shares A listed commerce company group acquired a listed company which manufactures machine tools. As a result, the listed commerce company group was able to integrate a new strategically core business, reform its business portfolio, and expand its operational area.
    May 2011 Acquisition of Shares A listed company which operates a personnel services business sold its subsidiary which dispatches technicians to a company which runs a construction industry-targeted personnel services business. As a result, the listed company was able to focus its business domain to dispatching short-term employees. The purchasing company was able to strengthen its client base and expand its personnel services by making its new company one of the key pillars of its business strategy.
    February 2011 Acquisition of Shares A listed publishing company with strengths in practical books and literature announced that the President and Representative Director of the company were going to execute a MBO (Management Buyout). As the publishing market continues to shrink, the company aims to execute radical reforms after becoming unlisted in order to improve the value of the company.
    November 2010 Acquisition of Shares A construction materials manufacturer sold its shares in an interior construction subsidiary to a major construction management company. The construction materials manufacturer was able to focus its managerial resources while the interior construction subsidiary was able to find more opportunities for growth.
    October 2010 Capital Participation A listed company which manufactures and sells generic pharmaceutical drugs acquired capital in a South Korean bio venture company. As a result, the listed company was able to secure an advantage in production scale and technology in the biosimilars market which is expected to grow in the future.
    July 2010 Capital Participation A listed company in the real estate industry which was in the process of management reorganization conducted capital increase through third-party allocation of shares to a business operator in the same industry. As a result, the listed company was able to improve its financial health by reinforcing its capital.
    June 2010 Business Restructuring A company group which owns a construction subsidiary sponsored an unlisted steel-frame construction company which had filed for protection under the Civil Rehabilitation Act. As a result, the reorganization plan of the unlisted construction company was authorized, and the company was able to rebuild its business. The company group was able to make an entry into the steel-frame construction business.
    March 2010 Transfer of Business A listed company which mainly operates a textile business sold some of the stores owned by its subsidiary to a real estate company. As a result, the listed company became capable of conducting business with greater agility.
    April 2010 Business Restructuring As part of a plan for restructuring, a company which runs department stores sold its equity to a company which operates in the real estate industry. As a result, the selling company was able to secure the necessary capital to execute further reforms.
    November 2009 Capital Participation An unlisted company which manufactures industrial equipment acquired capital in an unlisted company which manufactures sterilization equipment. As a result, the purchasing unlisted company was able to make an entry into a new business while the unlisted company which received capital was able to stabilize its financial foundation.
    December 2009 Capital and Business Alliance A company which runs an outsourcing business entered into a business alliance with a company which sells IT equipment. As a result, the former was able to grow its business by expanding its client network while the latter was able to form a more efficient sales system.
    November 2009 Acquisition of Shares An investment fund sold a long-standing clothing manufacturer which it had invested in to a trading company. As a result, the investment fund was able to recover its investment while the trading company was able to establish a bridgehead in lifestyle industry-related business which was its strategic focus area.
    October 2009 Capital Participation A listed company in the real estate industry which was in the process of management reorganization conducted capital increase through third-party allocation of shares to a company in the same industry. As a result, the listed company was able to improve its financial health by reinforcing its supply of capital.
    September 2009 Acquisition of Shares An unlisted company which runs a transportation business acquired an unlisted company which runs a customs clearance business. As a result, the transport operator was able to expand its business into fields related to its main business while the customs clearance company was able to stabilize its financial foundation by becoming a subsidiary of the purchasing company.
    August 2009 Acquisition of Shares A real estate company which sells condominiums sold its property management subsidiary. As a result, the parent company was able to establish a system to expand further by focusing its managerial resources. The subsidiary was able to establish a more stable business framework as a subsidiary of the purchasing company.
    August 2009 Business Restructuring A medical corporation which runs hospitals and nursing care facilities sponsored a medical foundataion which had filed for protection under the Civil Reconstruction Act. As a result, the restructuring plan was authorized and the sponsoring medical corporation was able to expand the number of hospitals it operates.
    July 2009 Company Split A listed company which manufactures and sells security equipment and information-related equipment executed a company split of its subsidiary and concentrated all of the group’s R&D and design functions into a newly established company. As a result, the listed company group was able strengthen product development and streamline group management.
    July 2009 Acquisition of Shares A listed company which runs a personnel dispatch business sold its IT subsidiary to an unlisted company which also runs an IT business. As a result, the listed company was able to reconstruct its business base by focusing on its personnel dispatch business while the unlisted company was able to expand its service lineup.
    May 2009 Acquisition of Shares A listed company which runs a personnel outsourcing business sold its automobile-related outsourcing subsidiary to a listed company in the same industry. As a result, the selling company was able to rebuild its business foundation by being able to select and focus on its business while the purchasing company was able to expand its business.
    May 2009 Acquisition of Shares A listed company which operates a business for dispatching technicians and manufacturing laborers sold its subsidiary in the credit business to the management of the company. As a result, the listed company was able to focus its managerial resources on the main business while the credit subsidiary gained freedom in management and was able to adopt a business strategy from a long-term perspective.
    May 2009 Business Restructuring An unlisted company in alcoholic beverage retail business which had filed for protection under the Civil Rehabilitation Act, received sponsorship from a listed company in the same industry. As a result, the reorganization plan of the unlisted alcohol beverage retailer was authorized, and the company was able to rebuild its business under the support of the listed company. The listed company was able to expand its sales territory.
    April 2009 Capital and Business Alliance A listed IT company which develops and sells software products entered into a capital and business alliance with a listed company which plans and sells electrical equipment. As a result, the listed IT company stabilized its financial foundation. Both companies were able to fuse their strengths in technology and development and their business operation know-how.
    February 2009 Business Restructuring A company group in the residential building design business sponsored a real estate development business which had filed for protection under the Civil Rehabilitation Act in order to expand its business in real estate development. As a result, the reorganization plan of the real estate developer was authorized while the sponsoring company was able to expand its business.
    March 2009 Acquisition of Shares A listed company which runs a personnel dispatch business sold its advertising agency subsidiary to an unlisted advertisement agency company. As a result, the listed company was able to focus its managerial resources on its main business while the purchasing unlisted company was able to expand its business.
    January 2009 Transfer of Business An unlisted company which runs a job offer advertising business sold its free job offer information magazine business. As a result, the selling company was able to focus its managerial resources on strategically important businesses while the purchasing company was able to make an entry into a new business field.
    November 2008 Share Exchange A listed company which manufactures and sells pharmaceutical drugs executed a share exchange in order to gain full ownership of its medicine manufacturing subsidiary. As a result, the listed company was able to reorganize the company group in order to manage the organization more efficiently and with greater agility.
    October 2008 Acquisition of Shares A listed textiles company group acquired a listed company which was engaged in the wholesales of IT equipment. As a result, the listed textile company group was able to strengthen a new strategically core business, reform its business portfolio, and expand its operation area.
    June 2008 Acquisition of Shares A listed IT company group which has an online securities subsidiary acquired an independent investment consulting company. As a result, the purchasing company group was able to expand the area of its finance businesses under its umbrella while the target company was able to advance its business by strengthening its business foundation.
    October 2008 Business Restructuring A listed company in the retail of alcoholic beverages sponsored an unlisted business in the same industry which had filed for protection under the Civil Rehabilitation Act. As a result, the reorganization plan, which called for an absorption-type company split, was authorized, and the company was able to rebuild its business with the support of its sponsor. The listed company was able to expand its sales territory.
    March 2008 Acquisition of Shares A listed real estate company sold its debt recovery subsidiary to a foreign investment fund. As a result, the listed company was able sell a non-core business while the foreign investment fund was able to expand the area of the finance sector businesses under its umbrella.
    June 2008 Acquisition of Shares A listed company involved in the manufacture and sales of pharmaceutical drugs acquired an unlisted company in the same industry with significant product brand power. As a result, the selling company was able to concentrate resources on its main business while the listed company was able to expand its product lineup and provide enhanced product information to medical institutions.
    February 2008 Transfer of Business An unlisted company in the wood materials wholesale business in Kansai sold its main business to a listed company in the same industry. As a result, the selling company was able to smoothly transfer its client base while it moved resources to other businesses. The listed company was able to acquire a strategically useful site and expand its area of operations.
    February 2008 Acquisition of Shares A major IT-related company group purchased the shares of an unlisted company in the same industry from its founder. As a result, the purchasing company was able to expand its business while the seller was able to secure founder’s profit and advance its business by utilizing the managerial resources of the major company group.
    January 2008 Acquisition of Shares A foreign investment fund which primarily operates in Asia acquired a Japanese outsourcing company. As a result, the outsourcing parent company was able to secure profits from exiting while the foreign investment fund was able to invest in a promising business.
    November 2007 Acquisition of Shares A foreign securities company association acquired a listed company which operates a real estate development business and a real estate investment consulting business by way of TOB. As a result, the foreign securities company association was able to invest in a promising business with an attractive portfolio, while the listed company was able to exit a non-core business and the founding owners were able to cash in all of their holdings.
    December 2007 Acquisition of Shares A listed company sold its precision parts manufacturing subsidiary to a foreign investment fund and management in order to promote efficient group management. As a result, the listed company was able to focus managerial resources on its main business while the foreign investment fund was able to invest in a promising business.
    November 2007 Acquisition of Shares A Japanese investment fund which invests in reorganizing companies acquired newly issued shares of an unlisted fitness equipment manufacturer and made it a subsidiary. As a result, the fitness equipment manufacturer was able to resolve its debt and promote business efficiency while the investment fund was able to invest in a promising business.
    October 2007 Capital Participation A listed company which runs a chain of clothing stores primarily in suburban areas acquired capital in a midsize unlisted company which runs a chain of clothing stores in the Kanto region. As a result, the listed company was able to accelerate the expansion of its stores while the unlisted company was able to acquire know-how on store operations and reinforce its capital supply.
    September 2007 Transfer of Business An unlisted company which operates nursing care services specializing in day services and house calls in the Tokyo Metropolitan Area sold its dispensing pharmacy business to a listed company which runs a chain of drugstores and dispensing pharmacies. As a result, the unlisted company was able to exit a non-core business while the listed company was able to acquire highly profitable dispensing pharmacies.
    September 2007 Acquisition of Shares The owner of a transporting company in the Tokyo Metropolitan Area sold its shares into a Kansai-based company in the same industry in order to find a successor for the business. As a result, the owner was able to smoothly pass the company to its successor while the Kansai-based company was able to secure a new base in the Tokyo Metropolitan Area and expand the area of its business.
    July 2007 Acquisition of Shares The founding family of a dispensing pharmacy which is highly profitable in the Tokyo Metropolitan Area sold its shares to a listed company which runs a chain of dispensing pharmacies in order to find a successor for its business. As a result, the listed dispensing pharmacy chain was able to secure a new base in the Tokyo Metropolitan Area and promote swift expansion of its stores while the family was able to achieve smooth succession of its dispensing pharmacy business.
    July 2007 Acquisition of Shares A foreign investment fund which mainly operates in Asia acquired a welfare service agent in Japan. As a result, the welfare service agent was able to utilize the network of the foreign investment fund and further improve its access to credit while the foreign investment fund was able to invest in a promising business.
    April 2007 Acquisition of Shares A midsize food product company group sold a machinery manufacturing subsidiary which manufactured and sold niche products to a Japanese investment fund and the company’s management. As a result, the midsize food product company was able to exit a non-core business while the Japanese investment fund was able to invest in a promising business.
    April 2007 Acquisition of Shares The owner family of a bedding wholesaler which has its own brand sold its shares to a first section-listed company which operates textiles and fashion-related business and became member of the company group. As a result, the bedding wholesaler was able to grow as it strengthened its development and business base. The purchasing company was able to acquire a new brand and expand its operation area.
    March 2007 Capital Participation A midsize food product company which has a travel company subsidiary underwrote the third-party allocation of shares of a midsize travel company which was in debt. The midsize travel company became a subsidiary. As a result, the midsize food product company was able to increase sales of the group as a whole as well as generate synergies. By becoming part of a company group, the midsize travel company was able to reorganize as well as expand its business.
    October 2006 Acquisition of Shares A company which sells security equipment experiencing a downturn sold its business to a listed information-related company. As a result, the purchasing company was able to uncover new clients and offer new products while the selling company was able to exit the business without inconveniencing its clients.
    October 2006 Business Alliance In order to improve its factory operation rate, a vendor of boxed lunches took over a production line of side dishes which was run by a major food product company to supply for a department store. The boxed lunch vendor had received financial support from a major bank during the bubble era and undertook a plan to reconstruct and transfer aging factories as it expected a large increase in sales. However, after this a prolonged slump in the sale of boxed lunches low operation rate, and high debt led to poor business performance. As a result of this business alliance, the boxed lunch vendor was able to use its factories more efficiently.
    October 2006 Acquisition of Shares A listed packaging materials wholesaler acquired a company in the same industry based in the Chukyo region in order to expand its sales area. The negotiations between the selling company and the purchasing company extended over several years, and finally the alliance was concluded with the agreement of the selling company’s clients. As a result, the purchasing company got a foothold in the Chukyo region and was able to expand its sales area in western Japan.
    October 2006 Merger As part of the reorganization of the company group of a major materials manufacturer, two of its environment-related subsidiaries merged. As a result, both companies were able to make redundant businesses within the group more efficient and improve their competitiveness by strengthening their sales outside the company.
    September 2006 Acquisition of Shares A company which operates pachinko halls acquired a golf course management company owned by a private equity fund. As a result, the private equity fund was able to recover its investment while the company which runs pachinko halls was able to diversify its business.
    September 2006 Acquisition of Shares A listed construction consulting company acquired a long-standing midsize civil engineering subsidiary of a listed construction-related company. As a result, the listed construction-related company was able to focus its managerial resources on its construction division while the listed construction consulting company was able to strengthen its peripheral businesses.
    September 2006 Transfer of Business A restaurant chain company in Tokyo sold its Chukyo region stores to a restaurant chain company in Kansai. As a result, the transferring company was able to specialize in the Kanto region, and the receiving company was able to immediately open stores in the Chukyo region and expand its area of operations.
    July 2006 Acquisition of Shares A listed construction-related company acquired the shares of a real estate sales venture company. The listed construction-related company was able to strengthen the real estate sales division of the group while the venture company was able to strengthen its business foundation for future business expansion by complementing its creditworthiness.
    July 2006 Company Split/Acquisition of Shares A midsize chain restaurant company used a company split to transfer its Chukyo region restaurant division to a listed personnel outsourcing company. As a result, the chain restaurant company was able to focus its managerial resources on a new business field while the listed personnel company was able to strengthen its restaurant business.
    July 2006 Transfer of Business A midsize food products company acquired the food materials wholesale business of a food product wholesale company by transfer of business in order to expand its business. As a result, the food product wholesale company was able to smoothly transfer its clients while the midsize food product company was able to improve its sales.
    June 2006 Capital and Business Alliance A long-standing midsize printing company acquired capital of a sales promotion systems developer subsidiary of a listed electronics manufacturer and entered into a business alliance at the same time. As a result, the sales promotion systems development company was able to utilize the client base of the printing company while the long-standing printing company was able to expand the content of proposals made to its client.
    June 2006 Acquisition of Shares A listed general personnel services company acquired the shares of a newly established company as a result of a company split of the sales support business from an IT consulting venture company. As a result, the listed general personnel services company was able to expand and diversify its personnel services.
    April 2006 Acquisition of Shares A midsize personnel services company sold its security subsidiary to a construction-related outsourcing company in order to focus its managerial resources. As a result, the midsize personnel services company was able to improve its operational efficiency.
    May 2006 Acquisition of Shares A listed personnel outsourcing company acquired shares from the owning family of a midsize security company which had been considering business succession. As a result, the listed personnel outsourcing company was able to diversify its outsourcing business.
    February 2006 Transfer of Operations A midsize business catering company acquired a poorly performing office catering company by way of transfer of operations to expand its business. As a result, the midsize office catering company was able to improve its sales.
    January 2006 Acquisition of Shares A listed logistics company sold its product sales subsidiary to a product sales company in the same industry in order to focus its managerial resources on its main business. As a result, the listed logistics company was able to exit a non-core business and focus on its main business while the purchasing product sales company was able to increase the scale of its operations.
    January 2006 Acquisition of Shares With the support of a main bank, a listed construction and engineering-related company acquired a midsize construction consulting company which was in debt. As a result, the midsize construction consulting company was able to avoid legal liquidation and successfully reconstructed its business.
    January 2006 Company split A listed textiles company used a company split to make each of the business divisions wholly owned subsidiaries and to become a pure holding company. As a result, each subsidiary was able to operate with greater agility and the company was able to build a highly efficient management system and centralize the managerial resources of the group.
    December 2005 Corporate Restructuring A listed construction-related company sponsored a listed general contractor which had filed for protection under the Civil Rehabilitation Act. As a result, the restructuring plan by way of company split was authorized and the company was able restructure the business.
    November 2005 Share Exchange A company which runs a sales support service desired to expand its business and became a subsidiary of a listed holding company in order to improve its access to credit and ability to procure funding. As a result, the listed holding company was able to enhance the hiring strategy for personnel in the group.
    October 2005 Acquisition of Shares A midsize printing company followed the private liquidation guidelines to inject funds in another printing company in order to restructure the company in debt. As a result, the sponsoring printing company was able to complement its business area and greatly expand its sales scale.
    July 2005 Transfer of Operations A listed character goods company took over the operations of a variety goods shop business from a listed household electronics mass retailing company. As a result, the character goods company was able increase the number of retail stores and instantly expand the area of its retail business.
    June 2006 Business Alliance A listed information-related trading company entered into a business alliance in the security field with a listed major telecommunications equipment company. The companies designed a collaboration system for sales and maintenance. As a result, the security business became an important sector for the major company and was transformed into a confederation. The companies were able to create a system that could aim to be a leader in its field.
    June 2005 Joint Venture A listed content provider company entered into a business alliance with a personnel dispatching company specializing in the amusement industry and the two companies formed a joint venture company. As a result, the content provider company was able to make a full-scale entry into the B2B field.
    May 2005 Acquisition of Shares The founding family of a company which operates a prestigious golf course sold its shares to a foreign company in order pass the company on to its successor. As a result, the founding family was able to smoothly pass the company on to its successor.
    May 2005 Acquisition of Shares In order to expand its business, a major lease property management company acquired shares of a midsize company from its owner, who had been considering the company’s successor. As a result, the owner of the company was able to pass the company on to its successor while the major lease property management company was able to increase its sales.
    May 2005 Transfer of Operations A midsize game software company acquired the operations of a company which operated game distribution sites in order to expand its content distribution business. As a result, the midsize game software company was able to make a full-scale entry into the game operations business.
    April 2005 Acquisition of Shares In order to expand its business, a midsize food products company purchased a poorly performing commissioned food service company after first restructuring its capital. As a result, the commissioned food service company was able to restructure its management while the midsize food products company was able to improve its sales.
    April 2005 Share Exchange A financial group established a pure holding company and made a commodity futures company a wholly owned subsidiary by way of share exchange. As a result, the group was able to focus its managerial resources and build a highly agile management system.
    April 2005 Transfer of Operations As part of its group business restructuring, a listed textiles company transferred operations of its linens subsidiary to a company in the same industry and subsequently exited this business. As a result, the listed textile company was able to liquidate an unprofitable business.
    February 2005 Transfer of Operations In order to expand its business, a major food supply delivery company acquired by transfer of operations, the food supply delivery business of a midsize restaurant company which had been engaged in redesigning its business structure. As a result, the midsize restaurant company was able to liquidate an unprofitable business while the major food supply delivery company was able to increase its sales.
    February 2005 Business Alliance A listed renovations company entered into a business alliance with a listed company in the same industry and strengthened the services in its refurbishment business. As a result, the listed renovations company strengthened its maintenance system.
    February 2005 Acquisition of Shares In order to expand its business, a listed content distribution company acquired the shares of a mobile content subsidiary of a midsize game company. The mobile content company became a subsidiary of the listed content distribution company. As a result, the listed content distribution company was able to acquire new contents.
    February 2005 Transfer of Assets As part of a business reorganization, a midsize precision machinery manufacturer transferred the business assets of its subsidiary to a listed printed-circuit board manufacturer. As a result, the midsize precision machinery manufacturer was able to compress its assets.
    February 2005 Transfer of Operations In order to expand its business, a midsize business catering company acquired a school food catering business from a poorly performing midsize food supply wholesale company by way of transfer of operations. As a result, the business catering company was able to improve its sales.
    January 2005 Acquisition of Shares In order to diversify its business, a listed contracting company acquired a midsize re-employment support company and made it a wholly-owned subsidiary. As a result, the listed contracting company was able to acquire a new pillar of its business.
    December 2004 Acquisition of Shares In order to expand its business scale, a midsize personnel dispatch company acquired a listed personnel dispatch company by TOB. As a result, the midsize personnel dispatch company was able to widen its operations base and dramatically expand the size of the company.
    November 2004 Transfer of Operations In order to expand operations, a major food supply delivery company acquired by way of transfer of operations a local food supply delivery company which had been considering business succession. As a result, the owner of the company was able to smoothly pass the company on to its successor while the major food supply delivery company was able to increase its sales.
    December 2004 Capital Participation In order to expand its business area, a listed major plasma power supply manufacturer underwrote a third-party allocation of shares of a midsize power-supply device manufacturer and made it a subsidiary. As a result, the listed plasma power supply manufacturer was able to expand its sales area while the midsize power-supply device manufacturer was able to secure business capital.
    November 2004 Merger A listed job search information support company amalgamated its subsidiaries for the purpose of group reorganization and strengthening of its business foundation. As a result, the company was able to increase business efficiency by focusing its managerial resources.
    October 2004 Acquisition of Shares The management of a foreign IT company bought back the shares of the company from its parent company listed overseas by way of a management buyout (MBO). As a result, the management of the IT company was able to execute its own business strategy.
    October 2004 Share Exchange A listed information provider company acquired a midsize apparel company by a share exchange. As a result, the listed information provider company was able to strengthen its strategic business.
    October 2004 Transfer of Operations In order to expand operations, a major food supply company acquired by way of transfer of operations the food supply business of a midsize transporting company that was engaged in a business reorganization. As a result, the midsize transporting company was able to focus its managerial resources while the major food supply company was able to improve its sales.
    October 2004 Company Split As part of the business reorganization scheme, a listed machinery manufacturer split off the engineering business division of its production plant subsidiary to create a new company. As a result, the IPO strategy of the subsidiary became easier to design.
    September 2004 Transfer of Operations In order to expand operations, a major food supply company acquired by way of transfer of operations the food supply business of a midsize trading company that was engaged in business reorganization. As a result, the midsize trading company was able to focus its managerial resources while the major food supply company was able to improve its sales.
    October 2004 Corporate Restructuring A listed system construction company sponsored a listed air conditioning and drainage works company which had filed for protection under the Civil Rehabilitation Act. As a result, the restructuring plan which centered around transfer of operations was authorized and the company was able restructure the business.
    June 2004 Acquisition of Shares In order to diversify its business, a listed investment company acquired a special film importing company from its owner who had been considering succession of business. As a result, the owner of the import trading company was able to secure continued employment for the employees while being able to smoothly pass his company to its successor.
    April 2004 Acquisition of Shares A company engaged in the final disposal of industrial wastes acquired a company engaged in intermediate disposal of industrial wastes which had been considering succession of the business. As a result, the purchasing company was able to design an integrated system to handle wastes from the intermediate stages to the final disposal destination.
    March 2004 Acquisition of Shares In order to expand its sales area, a major food supplier acquired the shares of a midsize family-owned company in the same industry which had been considering company succession. As a result, the owner of the company was able to smoothly pass the company on to its successor while the major food supplier was able to secure a base in the Kansai region.
    January 2004 Share Exchange As part of the group strategy, a listed textiles company acquired a listed subsidiary of an industrial materials manufacturer by way of share exchange and made it a wholly-owned subsidiary. As a result, the listed textiles company was able to concentrate the group’s managerial resources.
    December 2003 Acquisition of Shares The midsize personnel dispatch company affiliated with a major corporate group acquired the system engineer dispatch subsidiary of a midsize software company which was engaged in a group-wide reorganization. As a result, the midsize personnel dispatch company was able to strengthen its IT division.
    August 2003 Business Restructuring A major food wholesale company supported the restructuring of a pub restaurant chain which had filed for protection under the Civil Rehabilitation Act. As a result, the restructuring plan by way of business transfer was authorized and the major food wholesale company was able to expand into downstream areas.
    July 2003 Acquisition of Shares In order to expand its operations, a midsize food wholesale company acquired a midsize company in the same business which had experienced downturn. As a result, the midsize food wholesale company was able to improve its sales.
    June 2003 Transfer of Operations A listed systems company acquired the business of a bankrupt software development venture company in order to expand its product lineup. As a result, the company was able to maintain the sales area of the bankrupt company.
    May 2003 Acquisition of Shares A midsize manufacturer of automobile parts acquired a venture company which owns a new technology in burglary prevention. As a result, the midsize automobile parts manufacturer was able to strengthen its product development division.
    April 2003 Joint Venture A midsize game software developer spun off its game development business and established a joint venture company with a listed amusement company. As a result, the midsize game software developer was able to acquire production technology while recovering its development capital.
    April 2003 Transfer of Operations In order to expand its area of business, a midsize manufacturer of automobile parts acquired a burglary prevention system business via transfer of operations from a midsize company. As a result, the midsize automobile parts manufacturer was able to expand its product line.
    March 2003 Acquisition of Stores In order to strengthen its business foundation, a listed wedding services company acquired stores in operation from a midsize company in the same industry which was engaged in legal liquidation. As a result, the listed wedding services company was able to expand its sales area in the Tokyo Metropolitan Area.
    April 2003 Business Restructuring A golf course operations company which was in debt transferred its operations to a foreign investment fund under the Civil Rehabilitation Act. As a result, the restructuring plan by way of transfer of operations was authorized and the company was able to restructure the golf course business.
    March 2003 Acquisition of Shares A major shareholder of a listed machinery manufacturer transferred its shares to a business alliance partner company. As a result, the listed machinery manufacturer was able to secure a new stable shareholder and strengthen the relationship with said business alliance partner.
    February 2003 Transfer of Operations In order to expand its sales area, a midsize hospital food service company acquired by way of transfer of operations the hospital food service business of a midsize health care services company which had been engaged in a group reorganization. As a result, the hospital food service company was able to improve its sales.
    February 2003 Acquisition of Shares In order to expand its business area, a listed personnel services company acquired a contracting company which had been experiencing falling competitiveness. As a result, the listed personnel services company was able to strengthen its business in the factory field.
    October 2002 Corporate Restructuring In order to expand its printing business, a printing company sponsored and engaged in the rebuilding of a company in the same industry which had filed for protection under the Civil Rehabilitation Act. As a result, the restructuring plan was authorized while the sponsoring company was able to expand its business.
    October 2002 Transfer of Operations A midsize printing company which was in debt transferred its printing business to a printing subsidiary of a listed educational services company. As a result, the midsize printing company was able to secure the continued operation of its business and adjusted its debts through special liquidation.
    September 2002 Joint Venture A midsize game software developer spun off its mobile content business and established a joint venture company with a listed amusement company. As a result, the midsize game software developer was able to strengthen the business infrastructure of its mobile content business.
    July 2002 Corporate Restructuring A major food company group sponsored and engaged in the rebuilding of a long-standing sushi restaurant company which had filed for protection under the Civil Rehabilitation Act. As a result, the sushi restaurant company received authorization for its restructuring plan while the major food company group was able to strengthen its restaurant division.
    June 2002 Acquisition of Shares A midsize personnel dispatch company acquired an executive search company from its owner who had been considering company succession. As a result, the midsize personnel dispatch company was able to strengthen its product line in order to diversify its personnel business.
    June 2002 Transfer of Operations A midsize personnel business company transferred a non-core outsource data processing business which had low profitability to a company specializing in ourtource data processing services. As a result, the midsize personnel business company was able to specialize in its core business.
    February 2002 Corporate Restructuring A major food company group sponsored and engaged in the rebuilding of a food wholesale company which had filed for protection under the Civil Rehabilitation Act. As a result, the food wholesale company received authorization for its restructuring plan while the major food company group was able to expand its business.
    January 2002 Acquisition of Shares A major confectionery manufacturer acquired a high-end restaurant company which was in debt in order to strengthen its restaurant division. As a result, the restaurant company reduced its debt and was able to restructure its business.
    January 2002 Joint Venture A midsize personnel business company established a specialized sale force assistance joint venture company in a new field with its management. As a result, the personnel business company was able to make an entry into a business field which is expected to experience growth.
    December 2001 Joint Venture A midsize public works-related company created a joint venture with a major trading conglomerate which aimed to strengthen its public works business. As a result, the midsize public works-related company was able to enhance its credit and competitiveness.
    December 2001 Company Split A public utilities fees collection company split its business division off in order to prepare against new competition due to deregulation. As a result, the company was able to adjust its managerial resources and to facilitate certain business strategies such as partnerships with other companies.
    September 2001 Acquisition of Shares A listed textiles company transferred its shares in an affiliated company with which it had no business synergies, to an industry-leading company which was also a major shareholder of the company. As a result, the listed textiles company was able to advance restructuring within the company group.
    September 2001 Acquisition of Shares A midsize foreign personnel dispatch company acquired a personnel dispatch subsidiary of a major trading conglomerate which had been reviewing its company group strategy. As a result, the midsize foreign personnel dispatch company was able to expand its sales area and establish a company dispatching specialized personnel.
    July 2001 Transfer of Operations A venture company in the environment business transferred the operations of its health food sales business to a midsize company in the same industry in order to focus managerial resources. As a result, the venture company was able to adjust its business portfolio and prepare for a public offering.
    July 2001 Acquisition of Shares A midsize foreign personnel dispatch company acquired a personnel dispatch subsidiary of a major chemical trading company which had been reviewing its company group strategy. As a result, the midsize foreign personnel dispatch company was able to expand its sales area and advance a diversified strategy.
    June 2001 Acquisition of Shares A midsize game software developer sold the shares of its mobile content subsidiary to a listed amusement company. As a result, the midsize game software developer was able to secure business capital and strengthen the sales capabilities of its content subsidiary.
    May 2001 Business Alliance A midsize foreign personnel dispatch company and a personnel dispatch company affiliated with a major trading conglomerate entered into a business alliance in order to complement each other’s businesses. As a result, both companies gained access to each other’s training system and a jointly-operated hiring website.
    February 2001 Business and Capital Alliance A major shareholder of a midsize chemical manufacturer transferred its equity to a leading company in the same industry which was aiming to strengthen its business foundation. Subsequently, the companies entered into a capital and business alliance. As a result, the midsize chemical manufacturer was able to expand its sales channels and cut costs.
    January 2001 Business and Capital Alliance A drug store company affiliated with a food supermarket group entered into a business and capital alliance with a major drug store group in order to expand its business. As a result, the drug store company was able to expand the variety of its merchandise and cut costs.
    January 2001 Business and Capital Alliance A listed machinery manufacturer and a listed lapping machine manufacturer entered into a business and capital alliance in the production of semi-conductor manufacturing equipment. As a result, both companies were able to establish a horizontal division of labor framework for their production processes.
    October 2000 Capital Alliance A listed company which sells men’s clothing aimed to diversify its business by entering into a business and capital alliance with a foreign fund for commercialization capital and information-sharing. As a result, the clothing company was able to secure long-term stable capital to diversify its business.
    June 2000 Issue of Shares A midsize engineering company aimed to raise capital and make a public offering by raising funds from individual investors. As a result, the midsize engineering company was able to secure stable capital to expand its business.
    June 2000 Capital Alliance In a capital restructuring, a poorly performing listed chemical products company accepted capital from a foreign fund. As a result, the foreign fund acquired capital in the company via a MBI (Management Buy In).
    March 2000 Transfer of Operations A listed finance company transferred the operations of its outdoor products sales business which had been one of its business diversification, to a midsize outdoor products manufacturer in order to focus on its main business. As a result, the midsize outdoor products manufacturer was able to acquire new stores and a new brand.
    February 2000 Transfer of Operations As part of a business restructuring, a midsize personnel services company transferred the operations of a non-core personnel dispatch business division to a midsize personnel dispatch company in order to focus its managerial resources. As a result, the midsize personnel dispatch company was able to improve its sales.
    January 2000 Transfer of Operations In order to launch a new business, a cram school which was to make its IPO soon transferred the operations of a third sector computer classrooms business which was in liquidation. As a result, the company was able to introduce computer classes utilizing the classroom facilities of the cram school.
    December 1999 Business Alliance As part of a new business, a listed food-related machinery manufacturer entered into a business alliance with a venture company which was engaged in semi-conductor device manufacturing. As a result, the venture company found a stable source of business capital.