FOODBOX × Chikugin Bank: Launching Service Collaboration for "Food Baton" to Support Agricultural Business Succession and Third-Party Succession

FOODBOX Co., Ltd. (Headquarters: Minato-ku, Tokyo; Representative Director and President: Keisuke Nakamura; hereinafter "FOODBOX") is pleased to announce the start of a service collaboration with The Chikugin Bank, Ltd. (Headquarters: Kurume City, Fukuoka Prefecture; Representative Director and President: Hiroyuki Tsuruhisa; hereinafter "Chikugin Bank") for "Food Baton," a service that supports third-party succession of agricultural businesses from farmers to general companies. By advancing this collaboration with Chikugin Bank, we will 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 cases are progressing under the "Food Baton" scheme, primarily in the Kyushu and Yamaguchi areas. Amidst this trend, Chikugin Bank has also received consultations regarding agricultural business succession, and it was deemed indispensable to collaborate to contribute to solving and developing regional agricultural issues. By advancing this 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 by FOODBOX that not only focuses on new farmers or corporate entry but also seeks out the '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 successor companies, 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 business profitability.

[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. Having established a unique mechanism for DD (Due Diligence/Business Valuation) in the agricultural sector, which was considered difficult, allowing for quick DD.
3. Capable of value-up through accompanying support for agricultural management after business transfer, based on past consulting achievements.

About FOODBOX

FOODBOX is a venture company primarily engaged in consulting services specialized in food and agriculture. We provide accompanying support to our customers—farmers/agricultural production corporations, local governments, and companies—to solve their challenges and realize their aspirations. Recently, we have been building the mechanism for "Food Baton," a new business for third-party succession of agricultural businesses.

Nakamura (Representative), born to a fruit farmer in Fukuoka, started as a sole proprietor in July 2019 and incorporated as a company in July 2020. We work with our customers daily with the desire, "May there be fruit from the creators."

Tokyo Headquarters: VORT Roppongi Itchome 8F, 2-3-2 Roppongi, Minato-ku, Tokyo 106-0032

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