TOKYO, Apr 24 (Pulse News Wire) – JINS Holdings Inc. (3046.T) announced today that its subsidiary, JINS Philippines Inc., has decided to acquire the eyewear sales business in the Philippines from Suyen Corporation.
The acquisition was approved during a board meeting held , and is scheduled to be finalized on July 1, 2026. The transaction involves the purchase of eight existing stores operating under the JINS brand in the Philippines. The estimated cost of the acquisition is approximately PHP ¥100 million (about April 24, 2026), which will be settled through cash on hand. However, the final amount may vary based on the inventory valuation at the time of the transfer. Suyen Corporation, founded in 1985, operates in clothing, accessories, and related goods manufacturing and retailing.
It currently holds a capital of PHP ¥700 million. The acquired business aligns with JINS Holdings' strategy to deepen its involvement in local operations through direct management, aiming for faster expansion in the region. Following the acquisition, JINS Philippines Inc., established on August 29, 2025, will continue to operate in the Philippines, focusing on the manufacture and sale of eyewear and lenses, along with associated businesses. The company's capital structure remains unchanged, with JINS Holdings holding the majority stake. JINS Holdings expects the impact on its consolidated financial performance for the fiscal year ending August 2026 to be minor.
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