July 28, 2021
Notice Concerning Partial Business Transfer of "Kurita Minerise Water"
Kurita Water Industries Ltd. (Head Office: Nakano-ku, Tokyo; President: Michiya Kadota; hereinafter "Kurita") announces that a meeting of its Board of Directors on June 29, 2021 resolved to transfer a portion of its production and sales business for "Kurita Minerise Water," a mineralized water product for general consumers, from its consolidated subsidiary Kurita Creation Co., Ltd. (Head Office: Nakano-ku, Tokyo; President: Eiji Yonese ; hereinafter "Kurita Creation") to Mother Water, Inc. (Head Office: Shibuya-ku, Tokyo; President & CEO: Koichi Motoi; hereinafter "Mother Water"). Accordingly, a business transfer agreement was concluded between the three companies, Kurita, Kurita Creation, and Mother Water on July 26, 2021 as summarized below.
1. Reason for business transfer
Kurita began producing and selling Kurita Minerise Water in March 2000, later transferring the business to Kurita Creation in July 2004. With the aim of further expanding the Kurita Minerise Water business, it has been decided to transfer a portion of its production and sales business to Mother Water, which specializes in the production and sales of mineral water and has established its own sales network.
2. Overview of the business transfer
(1) Details of the business transfer
The transfer is for the production and sales business of "Kurita Minerise Water - Mineral 100" and "Kurita Minerise Water - Mineral 200".
- * Kurita Creation will continue to produce and sell "Emergency Drinking Water" and "Crafted Minerise Water 375 mL (aluminum bottle)".
(2) Business transfer date
October 1, 2021
3. Overview of company to which the business will be transferred
|Company name||Mother Water, Inc.|
|Address||1-51-7, Yoyogi, Shibuya-ku, Tokyo|
|Capital||3.85 million yen|
|Sales||359 million yen|
|Business activities||Commissioned production of original label mineral water and other beverages; development and wholesaling of mineral water-related products; consulting services related to mineral water production; and the retailing of mineral water.|
4. Impact on the Company's consolidated financial results
This business transfer will have minimal impact on the Company's consolidated financial results, and there are no changes to consolidated financial forecasts made for the fiscal year ending March 31, 2022.
Information on future purchases will be mailed to customers who purchase Kurita Minerise Water via subscription order.