Tokyo – Friday, 16 March, 2018 – CLSA Capital Partners, the asset management business of CLSA, is pleased to announce that Sunrise Capital III (“Sunrise III”) will acquire MOA Co. Ltd., MOA STORE Co. Ltd. and MOA Shuhan Co., Ltd. (collectively the “MOA Group” or the “Company”), a leading e-commerce business mainly focused on household appliances. Sunrise III is a CLSA Capital Partners fund that invests in established, mid-cap companies with strong growth potential in Japan.
Upon completion of the transaction, Sunrise III will acquire 100% of the shares of the MOA Group through a special purpose company. There will be no material changes to the MOA Group’s business operations or organizational structure.
Established in 2004, the MOA Group primarily sells household electrical appliances to retail customers through its ecommerce platform, “PREMOA”. In addition to the Company’s price competitiveness, the MOA Group is highly regarded by its diverse customer base for its comprehensive customer service. MOA Group has demonstrated steady growth by providing a range of services that include the delivery and installation of large household appliances and an in-house call center to provide all-inclusive, after-sales customer support. In 2013, the Company launched a private brand of household electrical appliances named “maxzen” and oversees the design, manufacture and distribution of the brand’s products which are praised by customers for their high quality and low prices.
While the e-commerce market within the domestic retail industry is steadily expanding, e-commerce penetration continues to be low relative to other countries and there is still significant growth potential. Supported by long-lasting trustworthy relationships with suppliers and customers, the MOA Group has exhibited strong growth driven by the Company’s stable procurement channels and sales capabilities. Sunrise III will continue to optimize the Company’s strengths and combined with Sunrise III’s experience in e-commerce, will seek to achieve growth beyond the Company’s current growth trajectory.