ITOCHU Announces Investment in Edwin Group
May 29, 2014
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it will invest in the Edwin Group based on the sponsorship agreement concluded with Edwin Holdings (headquartered in Arakawa-ku, Tokyo; Shuji Tsunemi, President & CEO) on March 10, 2014 (http://www.itochu.co.jp/en/news/press/2014/140311.html ), following the completion of the Edwin Group’s rebuilding of its business through turnaround ADR procedures.
Following this investment, ITOCHU will work to refortify the Edwin Group’s principal jeans business while respecting the traditions and identity of the Group. Using the Group’s strength in production systems, which utilize its 13 domestic plants and leads the industry in terms of high quality and efficiency, together with its solid sales foundation, ITOCHU will endeavor to further hone the Group’s product development that is quick to discern market trends and consumer demands.
Meanwhile, ITOCHU will rigorously strengthen the Edwin Group’s business management structure, for example through the introduction of internal controls and a highly transparent and sound personnel performance evaluation system.
Harnessing its abundant experience and extensive networks in the textile industry from upstream to downstream, ITOCHU will propose textile materials, expand the product lineup, build an overseas production base, and engage in other activities with a view to further enhancing the corporate value of the Edwin Group and expanding its business.