PRATO, Nov 22th, 2016. Daidoh limited, a Japanese group of fabrics and garments for men and women listed on the Tokyo Stock Exchange, acquired 65% of the shares of Pontetorto Spa, a Tuscan firm that for over 50 years has been producing high quality fabrics for the clothing industry (in particular the Fashion Line with noble fibers for fabrics in the outwear and Sportsystems Line with fleece fabrics for active and outdoor sports).
This represents a strategic deal for both companies that will extend their presence through synergies, both in terms of product and markets. Pontetorto will benefit from a capital strengthening and will consolidate its presence in Asia, where the company already has its own agents, also through Daidoh’s production and sales channels while the Japanese Group will have the opportunity to increase its penetration into the European market thanks to Pontetorto’s channels, integrating its fashion business with women’s fabrics.
In terms of governance, the Bonci brothers will remain shareholders and, above all, they will keep the management of the company, with the explicit approval of the new Japanese members: Pontetorto will retain its Italian identity, therefore neither the structure, nor the management will be changed. As a matter of fact, Pontetorto and Delfino will keep their own legal, administrative and operating offices in the current premises of Montemurlo and, accordingly, a 20 years lease has been formalized. On the other hand, Daidoh will nominate some members of the new Board of Directors, who will bring their top international experience.
Enrico Banci, President of Pontetorto SpA, declares “It’s a historic day for our company which, from today, comes in fact in a global dimension. Joining a Group four times larger than us will provide Pontetorto new business opportunities and new investments. Daidoh has shared our industrial project, focusing on production. Form a market point of view, Pontetorto may have a fast track to Asia where it will be allowed to use Daidoh factories with advantages in terms of costs. Being part of a public company will lead Pontetorto to increase its transparency of management, with auditing of financial statements each year and a progressive adaptation to international standards”.
Shin Okawa, President of Daidoh Limited, comments “Actually, Daidoh marries Pontetorto. In our vision, Daidoh will become not just a parent company of Pontetorto but a strategic partner. I highly appreciate Pontetorto’s design development, productivity, marketing skills, etc. When I first met Mr. Banci, I admired his personality and skills as President and we both had soon a good empathy. This is the reason why we strongly believe we can create great synergies between the two companies, so that they will also increase their market and enterprise value. Finally, I wish, and I’m sure, that from today all employees of the two companies become happier day by day”.