NSSK acquires operator of Japan's Thank You Mart chain

Elsonic was founded in 1995 in Osaka, and now operates 46 Thank You Mart stores across Japan in primarily urban shopping areas. The stores sell clothes, accessories, handbags, jewelry, school supplies, and other items primarily targeting a teenage girl audience, with decoration based on popular cartoon characters and TV shows.

The company employs its own staff of illustrators and releases one or more new products per day, at low price points to encourage impulse buying. It uses social media as its main marketing avenue, with an active presence on a variety of platforms.

NSSK will help Elsonic’s management implement global best practices in accounting, finance, and compliance, along with promoting corporate identity and environmental, social, and governance (ESG) policies, according to a release. The GP also plans to help strengthen same-store sales growth and profitability and accelerate new store openings through its connections in Japan’s real estate market.

NSSK is investing from its second fund, which closed last year with JPY60 billion ($531 million) in commitments. The firm targets the healthcare, consumer, and leisure segments, investing JPY1-5 billion per transaction. Recent acquisitions include manga publisher Bunkasha Publishing and hospitality business Hotel Castle Inn Group.

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• Topics
• North Asia
• Consumer
• Buyouts
• Japan
• NSSK