NSSK Announces Investment in the Sakura Pharmacy Group
Nippon Sangyo Suishin Kiko (“NSSK”; www.nsskjapan.com) is pleased to announce that investment partnerships managed or provided with services by NSSK affiliates entered into a share purchase agreement in respect of their acquisition of 100% of the outstanding equity shares of Kraft Inc. (together with its affiliates, the “Kraft Group” or the “Company Group”; www.kraft-net.co.jp). The closing of the transaction is subject to the approval of the proposed business rehabilitation plan and the consent of all eligible creditors of the Company Group and certain other conditions.
Founded in 1982, the Kraft Group is headquartered in Chiyoda-ku, Tokyo. The Company Group operates a dispensing pharmacy business under the “Sakura Pharmacy Group” brand, which prepares and dispenses medications to patients based on prescription instructions after diagnosis by a physician at hospitals or clinics. It is one of the major players in the industry with approximately 900 pharmacies situated mainly in populated areas such as the Tokyo metropolitan area (Tokyo, Kanagawa, Chiba, Saitama), the Kansai area (Osaka, Hyogo), and the Tokai region (Aichi, Shizuoka).
Building on the business foundation that the Kraft Group has established, NSSK aims to provide support through its NSSK Value-up Program, its business expertise, and domestic and international networks, working with the current management team so that the Company Group can achieve more robust growth in its next stage of development. NSSK will seek to support new store openings with an eye to further sales growth and strengthening operations that provide greater added-value to society, which in turn is expected to lead to increased sales at existing stores. NSSK will also assist in the introduction of business management methods, which include establishing KPIs, strengthening governance and compliance systems, enhancing labor management systems, and promoting its corporate philosophy and ESG activities.
With the support of NSSK, the Company Group will continue to support the health of local residents by providing quality medical and nursing services in cooperation with doctors, nurses and care workers, as a pharmacy that plays a part in the “community-based integrated care system”. The Company Group will seek to be a trusted pharmacy, where patients can feel free to consult with professionals about their health and medicines at any time.