||Formerly a wholesaler subsidiary of Saison Group to support group retailers (Seiyu, FamilyMart, Ryohin Keikaku, etc.) for the procurement of packaging materials, groceries and other general merchandise. Through performing such supporting functions, developed an ability to cater various request of retailers and started to provide merchandising services to non-Seiyu customers which sometimes includes arranging production of goods with a third party manufacturers. Became an independent wholesale company of packaging materials, groceries and other general merchandise by way of the carve out of the purchasing division for Seiyu-original items in Nov 05.
||MEBO. Spin-out from Seiyu, the parent company, due to its divestiture strategy of non-core business.
||Realize the full potential of the company by sponsoring MBO of a subsidiary of Saison Group when Seiyu was acquired by Wal-Mart and by helping the management expand non-Saison customer base and strengthen management control
|Date of Exit
||Trade sale of the entire holding to Senko Co., Ltd.
||After the investment by Polaris, Smile allocated more resources to profitable businesses by selling low-performing/loss-making businesses. Then the company increased business volume with the existing non-Seiyu customers, acquired new customers and developed new merchandise while it also cut down operational cost through reduction of distribution cost/inventory/personnel expenses and office relocation. As a result of those measures, Smile has become a highly profitable company. Under the new owner, Senko, Smile will aim to increase its corporate value by building a business model which integrates procurement and logistics services globally combining the respective expertise of Smile and Senko and by strengthening its marketing capability utilizing Senko' s extensive customer base in the logistics industry.