TSI Holdings to transfer Toska-Bano'k shares amid portfolio restructuring

TSI Holdings (TSE:3608) announced its decision to transfer shares of consolidated subsidiary Toska-Bano'k Co., Ltd., along with its overseas sub-subsidiaries Shanghai Bano'k Co., Ltd., VAN NANG BANOK Co., Ltd., and Bangla-Bano'k Co., Ltd., to BCM36 Co., Ltd., a special purpose company funded by BCM-VI Investment Limited Partnership. This strategic move aligns with TSI's "TSI Innovation Program 2027 (TIP27)" which emphasizes business restructuring and optimization of its business portfolio. This portfolio review was accompanied by organizational restructuring completed in the previous fiscal year. TSI Holdings aims to focus its management resources on core apparel and high-growth overseas businesses. The company also released notice on the variance between non-consolidated full-year results, posting net sales of JPY 2,759 million, operating income at JPY -3,273 million, ordinary income at JPY -2,531 million, and a net income of JPY 13,838 million. The transfer is scheduled for June 1, 2025.