ITOCHU Announces Investment in Noin, Inc. | Press Releases
Summary
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Yoshihisa Suzuki, President & COO; hereinafter “ITOCHU”) announced today that it has agreed to acquire some shares issued by Noin, Inc. (headquartered in Shinjuku-ku, Tokyo; Ken Watabe, Representative Director; hereinafter “Noin”) in its capital increase through private placement. With the mission of “providing excitement to everyone’s day,” Noin began operating its cosmetics e-commerce platform in October 2017. It has grown into the leading cosmetics e-commerce platform, with its NOIC app exceeding 2.5 million downloads. ITOCHU reached an agreement with Noin because of the various synergies such as in the introduction of new brands and the expansion of licensing of existing brands, as well as in the e-commerce business and the data marketing business, that are expected as a result of the collaboration with Noin, given that the cosmetics industry has a strong relationship with the brand business. Going forward, ITOCHU will support Noin in expanding its business and enhancing its corporate value by leveraging ITOCHU’s expertise and network in the brand business and accelerate the reinvention of the brand business by working on fusion with Nion’s broad knowledge in the cosmetics field.