Chinese Textile Enterprises First Acquire Japanese Main Board Listed Companies

This afternoon, from Shandong Ruyi science and Technology Group Co., Ltd., relevant people were informed that Shandong Ruyi purchase Japanese clothing brand operator RENOWN company signed yesterday. Through the way of issuance of shares, Shandong Ruyi obtained 40% stake in RENOWN company, thus becoming the largest shareholder of the company.

This is the first time that Chinese textile enterprises have acquired a Japanese company listed on the main board of Japan, and the purchase price is less than 30% compared to 5 years ago.

These people told reporters that RENOWN was once the largest clothing brand operator in Japan, operating more than 30 famous clothing brands in Japan and Europe, and more than 2000 clothing stores in Japan. In recent years, the company's situation has been declining, but still ranked the top 10 of Japanese apparel operators.

Through this "acquisition", Shandong Ruyi can get the famous brand such as "D 1, URBAN" operated by RENOWN. RENOWN also expects to speed up its development in China by using Shandong Ruyi sales network in China.

The management level of RENOWN will remain stable. Shandong Ruyi will have 3 seats in the board composed of 7 directors and 3 directors in other areas, and there will be another independent director.

This "merger" is seen as positive in the Japanese stock market. Yesterday, media reports reported that the negotiation of Shandong Ruyi group's merger and acquisition of Renown company entered the final stage, which stimulated the company's stock to hit 35% of the daily limit and reported 191 yen.

According to the introduction of Ruyi official website in Shandong, Shandong Ruyi group currently has eighth main business income in China's textile and garment industry. Its Ruyi wool textile industry ranks first in China's wool textile industry's top ten companies. Ruyi clothing ranks the top 8 in China's apparel industry competitiveness, Ruyi printing and dyeing industry ranks top 3 in China's printing and dyeing industry, and Ruyi cotton textile ranks the top ten in China's cotton textile industry.