Japan'S Clothing Giant RENOWN Is Committed To Shandong Ruyi Technology.

2010/7/31 14:56:00 29

According to Japanese media, Japan is in a restructuring period.

RENOWN

The company held a provisional shareholders' meeting in Tokyo on 29, and decided to implement the third party private placement to Shandong Ruyi technology group and accept three Chinese directors.

This means that RENOWN will be officially placed under the banner of Chinese enterprises.

As an old brand enterprise, RENOWN maintained a good performance during the bubble economy period, but after that, the Japanese economy fell into a long-term downturn and the company failed.

RENOWN hopes to achieve full reorganization under the banner of Chinese enterprises in order to strengthen the financial system and expand the market of China and other Asian markets.

RENOWN will send an additional 4 billion yen (310 million yuan) to Shandong.

Shandong Ruyi will hold 41.18% stake to become its largest shareholder.

Two the company plans to set up a joint venture in Beijing to sell RENOWN's "simple life" in China.

Brand clothing

。

Strive to increase the store to 2 thousand in 10 years.

Shandong Ruyi

With more than 1/3 of the shares held, the shareholders' meeting will have a veto on the important decisions in operation.

RENOWN14 reported 2010 3 to May earnings report shows that its sales amounted to 17 billion 300 million yen, operating profit of 1 billion 300 million yen.

Because of the restructuring of shops and so on, the two amount has been reduced by nearly half, and the situation is not optimistic.

A female shareholder attending the shareholders' meeting said: "the time honored enterprises are under the banner of Chinese enterprises.

But now it is the age of globalization, and we hope that we can take the initiative with the help of Chinese enterprises.