||Established in Kagoshima prefecture in 1989 and grew into a regional drug store chain with 175 stores (Mar 06) in Kyushu and Okinawa area. Defines itself as “specialty store for health and beauty” with customer orientation and counseling capability in order to differentiate it from large scale discounting drug stores.
||MBI & Secondary buy-out from Unison Capital
||Increase the value of the company by supporting the growth strategy for expanded business lines at the transition from the turn-around phase under the previous sponsor to the autonomous growth phase
|Date of Exit
||Trade sale to JR Kyushu
||Within a year from the investment, stronger business position and significant improvement of profitability were achieved to secure a growth trend. Then, Polaris could sell the entire holdings to JR Kyushu as the company was strategically important for JR Kyushu’s retail business which was their third business pillar following railroads and development of Hakata station. The company would benefit from JR Kyushu’s ownership by way of new stores at station premises and implicit credit support in financing.