FOODBOX x Chikugin Bank Launch Service Collaboration for "Food Baton" Supporting Agricultural Business Succession and Third-Party Succession

FOODBOX Inc. (Headquarters: Minato-ku, Tokyo; Representative Director and President: Keisuke Nakamura; hereinafter "FOODBOX") announces the commencement of a service collaboration with The Chikugin Bank, Ltd. (Head Office: Kurume City, Fukuoka Prefecture; Representative Director and President: Hiroyuki Tsuruhisa; hereinafter "Chikugin Bank") for "Food Baton," a service that supports the third-party succession of agricultural businesses from farmers to general companies. By advancing this collaboration with Chikugin Bank, we aim to make economic support for companies taking over agricultural businesses smoother and stronger.

"Food Baton" dedicated website: https://foodbox-jp.com/matching/

FOODBOX × Chikugin Bank Collaboration Flyer

Background of Service Collaboration

Recently, multiple business succession projects are underway using the Food Baton scheme, primarily in the Kyushu and Yamaguchi areas. In this context, Chikugin Bank has also received consultations regarding agricultural business succession, and it was deemed indispensable to collaborate to contribute to solving regional agricultural issues and development. By promoting collaboration with Chikugin Bank, we will make economic support for companies taking over agricultural businesses smoother and stronger.

Overview of Agricultural Business Succession "Food Baton" Service

Food Baton is a new business of FOODBOX that not only focuses on new farmers and corporate entry but also seeks out "diamonds in the rough" among retiring farmers and provides accompanying support for agricultural business succession. In addition to searching for and mediating between retiring farmers and companies taking over, FOODBOX provides accompanying support for management transition and value improvement for approximately three years after the transfer, aiming for a smooth management transition and short-term profitability of the business.

[Customer Voice]

Livestock industry / Pig farming "Transfer of pig farming business": https://foodbox-jp.com/customer/#modal_1673

Three Strengths of FOODBOX's Agricultural Business Succession "Food Baton"

1. Possessing a common language with farmers/agricultural corporations/agricultural related businesses, enabling consultation and consensus building.
2. Establishing a unique mechanism for DD (Due Diligence / Business Valuation), which was considered difficult in the agricultural industry, enabling quick DD.
3. Based on past consulting achievements, value-up is possible through accompanying support for agricultural management after business transfer.

About FOODBOX

FOODBOX is a venture company specializing in food and agriculture consulting. We provide accompanying support to solve problems faced by our customers (farmers/agricultural production corporations, local governments, companies) and help them realize their goals. Recently, we are building a mechanism for third-party succession of agricultural businesses called "Food Baton."

Nakamura (Representative), born to a fruit farmer in Fukuoka, started as a sole proprietor in July 2019 and became a corporation in July 2020. "May there be fruit from the creators." With this sentiment, we work with our customers every day.

Tokyo Head Office: 〒106-0032 8F VORT Roppongi Itchome, 2-3-2 Roppongi, Minato-ku, Tokyo

Kyushu/Yamaguchi Branch: 〒830-0053 1083-5 Fujiyama-cho, Kurume City, Fukuoka Prefecture