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Wednesday, 12 June 2019, 14:01 HKT/SGT
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Source: Mitsubishi Corporation
Mitsubishi Corporation and Komeda Agree to Business Alliance and Acquisition of Third Party Shares

TOKYO, June 12, 2019 - (JCN Newswire) - Mitsubishi Corporation (MC) and Komeda Holdings Co., Ltd. (Komeda) have reached an agreement to establish a comprehensive business alliance.

Komeda operates one of Japan's largest full-service coffee shop franchisers (KOMEDA'S Coffee), the philosophy of which is to provide customers with the "ultimate places to relax and unwind." Ever since establishing its first coffee shop in 1968, Komeda has made firm commitments to customer relaxation, its own manufacturing methods, and the self-sourcing of quality raw materials from carefully selected regions. The company's proprietary franchising system has carved out a unique position for its coffee shops in the food-service industry.

Komeda launched its sustainability initiatives in 2018, its 50th anniversary. To commemorate the occasion, it announced a new mission to supplement its "places-to-relax" philosophy entitled "Relax Your Mind Better" Part of this mission has been sustainable coffee sourcing from Olam International Limited, an agri-business company that has been one of MC's strategic partners since 2015.

In addition to strengthening our existing ties, this new alliance between MC and Komeda will enable the partners to make even better use of both MC's far-reaching networks in the consumer industries and the MC Group's data-marketing capabilities. It should also promote the joint development of sustainable products and services and encourage Komeda to take advantage of the MC Group's overseas network to develop its own operations internationally. The partners have also planned to have MC personnel dispatched to Komeda to help ensure that the new alliance progresses smoothly.

As part its overarching mission to simultaneously generate economic, societal and environmental value, MC has also committed to enhancing this alliance by acquiring a 0.95% interest in Komeda through a third-party share subscription valued at approximately 890 million yen.

Komeda operates one of Japan's largest full-service coffee shop franchisers (KOMEDA'S Coffee), the philosophy of which is to provide customers with the "ultimate places to relax and unwind." Ever since establishing its first coffee shop in 1968, Komeda has made firm commitments to customer relaxation, its own manufacturing methods, and the self-sourcing of quality raw materials from carefully selected regions. The company's proprietary franchising system has carved out a unique position for its coffee shops in the food-service industry.

Komeda launched its sustainability initiatives in 2018, its 50th anniversary. To commemorate the occasion, it announced a new mission to supplement its "places-to-relax" philosophy entitled "Relax Your Mind Better" Part of this mission has been sustainable coffee sourcing from Olam International Limited, an agri-business company that has been one of MC's strategic partners since 2015.

In addition to strengthening our existing ties, this new alliance between MC and Komeda will enable the partners to make even better use of both MC's far-reaching networks in the consumer industries and the MC Group's data-marketing capabilities. It should also promote the joint development of sustainable products and services and encourage Komeda to take advantage of the MC Group's overseas network to develop its own operations internationally. The partners have also planned to have MC personnel dispatched to Komeda to help ensure that the new alliance progresses smoothly.

As part its overarching mission to simultaneously generate economic, societal and environmental value, MC has also committed to enhancing this alliance by acquiring a 0.95% interest in Komeda through a third-party share subscription valued at approximately 890 million yen.

About Mitsubishi Corporation

Mitsubishi Corporation, headquartered in Tokyo, is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business. Mitsubishi Corporation's current activities are expanding far beyond its traditional trading operations as its diverse business ranges from natural resources development to investment in retail business, infrastructure, financial products and manufacturing of industrial goods.

For more information on Mitsubishi Corporation, please visit the company's website at https://www.mitsubishicorp.com/jp/en/.

Contact:
Mitsubishi Corporation
Telephone: +81 3 3210 2171
Facsimile: +81 3 5252 7705 


Source: Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058)

Topic: Press release summary
Sectors: Food/Beverage
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