Investment in Sokan 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 (NSSK II) completed its investment in Sokan Co., Ltd. (the “Company”; https://www.sokan.jp/).
The Company was founded in 1991 and is headquartered in Yaita City, Tochigi Prefecture. The Company manufactures and distributes healthy “ingredient-based snacks” such as stems of “wakame” seaweed, pickled and processed plums, dried fruits and dried sweet potatoes. The Company is a leading player in the “ingredient-based snacks” category with an industry track record of 30 years. The Company has produced highly tasty, safe and reliable products with best-in-class quality control systems, in accordance with JFS-B standards and with FSSC 22000 certification (at the Head Office, Yaita Factory and Yaita 2nd Factory).
The Company is a leading company that operates in the regional markets and is highly recognized in Tochigi Prefecture where the Company is headquartered and has made strong contributions to local communities through the support of local professional sports teams and regional development projects. In 2016, the Company opened a new factory in Otsuchi-Cho, Iwate Prefecture (an area severely damaged by the Great East Japan Earthquake) to support the reconstruction of the Sanriku region. The Company has been procuring domestic “wakame” seaweed from the Sanriku region, and has been making a significant contribution to its recovery from the earthquake.
The Company’s corporate philosophy is “to be a bridge between food and smiles for the future”. Based on this corporate philosophy, the Company will continue to develop and deliver new products and ways of eating, aiming to be the number one company in the healthy “ingredient-based snacks” market. The Company will also promote work style reforms and women’s participation and advancement in the workplace to enhance its status as an employee-friendly company.
Leveraging the business foundation the Company has built, NSSK will provide its Value Up Program (“NVP”) to implement global best business practices in all relevant areas, including sales growth by expanding sales channels and product line-ups as well as strengthening initiatives around digital marketing, accounting, finance, governance, compliance, corporate philosophy (“Sokan Purpose”) and ESG. NSSK will also offer its business expertise and domestic and international networks so that the Company can grow significantly stronger in the next stage of development with the current management team.
NSSK is partnering with the Company’s current management team, who will continue to manage the Company.