Nishimura & Asahi advises World Co on a business integration agreement with TSI Holdings that will create Infinity United as parent of both companies.
Law.asia reported that Nishimura & Asahi has advised Japanese fashion and apparel company World Co on the execution of a business integration agreement with TSI Holdings, a Tokyo-based holding company. The integration will lead to the creation of Infinity United, which will become the parent company of both World Co and TSI Holdings.
Based on World Co and TSI Holdings' forecasts for the financial year ending February 2027, their combined sales are projected to reach US$3.3 billion (JPY500 billion) (USD3.1 billion). Nikkei Asia reported that Infinity United is expected to rank as Japan's third-largest apparel company by sales, behind Fast Retailing, the owner of Uniqlo, and budget clothing retailer Shimamura.
The Nishimura & Asahi team was led by partners Hiroshi Uchima, Junya Kokaji and Madoka Shimada, along with legal professional corporation partner Satoshi Niki.
Kokaji told Asia Business Law Journal that the firm's role included conducting legal due diligence and advising World Co in connection with the negotiation of the business integration agreement and other related transaction documents. He said the integration progressed smoothly as both parties were aligned in their outlook for the future.
