Investment in Oriental Foods Co. and I.I.T. Corporation 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 Oriental Foods Co., I.I.T. Corporation, and its subsidiaries (collectively “OFC/IIT Group” or the “Company”; http://www.oriental-foods.co.jp, http://www.iit-inc.co.jp).
Oriental Foods Co., Ltd. was established in 1978 and is a fruits and vegetable wholesaler to supermarkets in Hokkaido. I.I.T. Corporation was established in 1988 as a spin-off of the logistics division of Oriental Foods, and operates the logistics business serving the supermarkets of Hokkaido together with other affiliated companies.
The logistics business operated by the Company is one of the leading logistics businesses serving supermarkets in Hokkaido. It comprises seven distribution centers that can accommodate three temperature zones and operates a fleet of more than 300 trucks. The distribution centers are located mainly in Ishikari City, a key location for food distribution in Sapporo, the biggest city in Hokkaido. As for the fruit and vegetable wholesaling business, the Company is a niche player with a high market share in Hokkaido for specific products including bean sprouts and citrus fruits. Both businesses are solid and growing businesses with a stable market environment and a blue-chip customer base.
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 NSSK`s business expertise and domestic and international networks. NSSK is partnering with the Company’s current management team, who will continue to manage the Company.