Investment in SOWA PROJECT
Nippon Sangyo Suishin Kiko (“NSSK”;http://www.nsskjapan.com/en) is pleased to announce that a company controlled by investment partnerships NSSK affiliates manage (NSSK II) completed its investment in SOWA PROJECT CO., LTD. (“SOWA PROJECT ” or the “Company”http://www.sowaproject.jp).
SOWA PROJECT is company founded in 1986 and headquartered in Sapporo, Hokkaido. The Company currently rents bridal gowns and accessories and operates three wedding banquet facilities and one church in Sapporo and holds roughly 1,000 wedding parties a year. Positioned as a fully integrated provider of wedding and reception services including importing handmade wedding dresses designed by leading designers in Europe for rentals and wholesale sales, the Company generates solid revenues per customer, strong margins and enjoys strong name recognition and customer loyalty.
NSSK will provide NSSK’s Value Up Program (“NVP”) to SOWA PROJECT to implement global best business practices including accounting, finance, compliance and governance policies and procedures, promote ESG, strengthen the profitability of its business lines, and assist in the expansion into other major metropolitan markets, such as Tokyo, by leveraging NSSK’s network. NSSK is partnering with SOWA PROJECT’s incumbent management team, who will continue to manage the Company and will retain a minority stake.