News
Kuraray Co., Ltd. (Head Office: Chiyoda-ku, Tokyo; President: Hitoshi Kawahara) announces that it has concluded a share transfer agreement (hereinafter, “share transfer”) in which all of its shares in its consolidated subsidiary Iruma Country Club (Head Office: Ogose, Iruma District, Saitama Prefecture; President Shigeru Matsui) will be transferred to RESOL Co., Ltd. (Head Office: Mobara, Chiba Prefecture; President: Naoto Sano), which is under the umbrella of RESOL HOLDINGS Co., Ltd.
1.Objectives and Overview of Share Transfer
Iruma Country Club has been a long-standing member of the Kuraray Group since its opening in September 1977, and has strived to create attractive courses and improve customer service. The club, with its hilly woodland courses, has a reputation for easy access from Tokyo as well as good course conditions, has been well received by many golfers.
However, the Company’s medium-term management plan, PASSION 2026, calls for the upgrading Kuraray’s business portfolio. As the business environment surrounding the golf industry has changed, various considerations have been made to ensure that the club will continue to provide high-quality services in the future. As a result, Kuraray has determined that entrusting the management of the club to the RESOL Group, which has a reputable, proven track record in the management of hotels, golf courses, and other businesses, will contribute to the future growth of the club, and decided to proceed with the share transfer.
2.Scheduled date of share transfer
August 31, 2023 (tentative)
3.Outlook
This share transfer is not expected to have a material impact on Kuraray’s consolidated performance. Going forward, we will promptly disclose any matters requiring announcement, such as revisions to earnings forecasts.
4.Overview of the Transferrer Company and the Transferee Company
Transferrer Company
| Company name | Iruma Country Club |
|---|---|
| Head Office | 1159-1 Ogose, Iruma District, Saitama Prefecture |
| Representative | Shigeru Matsui, President and Representative Director |
| Establishment | June 1972 |
| Capital | ¥40 million |
| Main business | Golf operation business (Iruma Country Club 18-hole course) |
| Shareholder | Kuraray Co., Ltd.: 100% |
Transferee Company
| Company name | RESOL Co., Ltd., |
|---|---|
| Headquarters | 1808-1 Manna, Mobara, Chiba Prefecture |
| Representative | Naoto Sano, President and Representative Director |
| Main businesses | Hotel Management Business, Golf operation business |
| Major shareholders | RESOL HOLDINGS Co., Ltd.: 95%, RESOL GENERAL RESEARCH INSTITUTE Co., Ltd.: 5% |
Major Shareholder of the Transferee
| Company name | RESOL HOLDINGS Co., Ltd. (Tokyo Stock Exchange Prime: Code 5261) |
|---|---|
| Headquarters | 6-24-1 Nishi-shinjuku, Shinjuku-ku, Tokyo |
| Representative | Masaru Osawa, President and Representative Director |
| Establishment | February 27, 1931 |
| Capital | ¥3.95 billion |
| Sales and profit | Net sales: ¥22,061 million, Operating income: ¥324 million (fiscal year ended March 31, 2023) |
| Main businesses | Hotel operations business, Golf operations business, RESOL NO MORI (CCRC), Welfare business, Renewable energy business, and Investment recovery business |
| Major shareholders | Mitsui Fudosan Co., Ltd.: 41.02%, Konami Group Corporation: 20.39% |
