Investment in Hakkoden Holdings Co., Ltd. by NSSK II
Nippon Sangyo Suishin Kiko (“NSSK”; www.nsskjapan.com) is pleased to announce that a company controlled by investment partnerships managed by NSSK affiliates completed its majority investment in Hakkoden Holdings Co., Ltd. and its affiliates (collectively “Hakkoden Group” or the “Company”; www.hakkoden.co.jp).
Hakkoden Group was founded in 1947 and is headquartered in Yao City, Osaka Prefecture. The Company operates a impressive network of funeral halls (7 in Yao City, 3 in Kadoma City, and 2 in Shijonawate City, for a total of 12 halls) and has the largest market share of funeral services held in Yao City. Under the theme of “Emotional Funeral Services,” the Company`s staff, who have completed approximately 3,600 hours of training per person, provides courteous and high value-added services, which have been highly regarded by customers. High customer satisfaction is underpinned by the Company`s corporate philosophy “to pursue the happiness of all employees in both mind and body, and to create a better society with a grateful heart.”
NSSK will leverage its in-depth knowledge and experience in the funeral industry, cultivated through its investments and management support experience, to build a “funeral platform” capable of providing high-quality, comprehensive funeral services, including the funeral ceremony and aftercare services to customers nationwide. The investment in the Hakkoden Group marks the second stage in the creation of a “funeral platform” following our investment in Tokai Tenrei Co., Ltd. (Head office: Toyokawa City, Aichi Prefecture) through the Chubu/Hokuriku Region Vitalization Investment L.P., a regional impact fund controlled by NSSK. The goal of the funeral platform is to aggregate a number of leading service providers in the funeral industry and to drive growth through a buy-and-build strategy.
Building on the foundation the Company has built, NSSK will provide its Value Up Program (“NVP”) to implement global best business practices in all relevant areas, including accounting, finance, governance, compliance, corporate philosophy, ESG as well as offer our business expertise and domestic and international networks. NSSK will also support the Company’s sales growth by refining its marketing strategy and assisting in the development and opening of new facilities.
NSSK is partnering with the Company’s current management team, who will continue to manage the Company.