Investment Fund NSSK to Acquire Protein Brand DNS
Tokyo, Aug. 30 (Jiji Press)--Japanese investment fund Nippon Sangyo Suishin Kiko Ltd. plans to acquire the protein brand DNS from Dome Corp., which is licensed to sell Under Armour sports gear in Japan, informed sources said Sunday.
NSSK plans to acquire Dome's sports nutrition products business, including the second largest protein brand in Japan, for several tens of billions of yen, the sources said.
Dome will focus on Under Armour operations. The company had 37.6 billion yen in sales and 2.3 billion yen in ordinary loss last year.
There may be a series of moves among Japanese companies to sell noncore operations to investment funds in a rapidly changing business environment amid the coronavirus pandemic.
NSSK aims to boost the earnings of DNS to sell or bring the brand public for profits in about five years.
[Copyright The Jiji Press, Ltd.]