JR Shikoku Relationship Fund: Capital Alliance with Chikiriya, a Sweets Company in Shikoku
Japan Private Equity (JPE), through the "JR Shikoku Relationship Fund No. 1 Investment Limited Partnership" fully funded by JR Shikoku, has formed a capital alliance with Chikiriya Co., Ltd., a long-established Western confectionery company in Kagawa Prefecture. This partnership aims to strengthen Chikiriya's collaboration with the JR Shikoku Group, promoting business expansion and a transition to organizational management.
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- 📰 Published: April 15, 2026 at 16:50
- 🔍 Collected: April 15, 2026 at 08:31
- 🤖 AI Analyzed: April 19, 2026 at 13:56 (101h 24m after Collected)
— Japan Private Equity Co., Ltd. (JPE) operates the fund, with JR Shikoku fully investing in it, leading to a capital alliance.
— Acquiring shares through "J-Marche," which forms an alliance in Shikoku's sweets industry.
— Aiming for further growth through business collaboration with JR Shikoku and a transition to organizational management.
— Chikiriya is JPE's 38th investment, and its first in Shikoku.
Japan Private Equity Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director and President: Shinichi Hoda; hereinafter "JPE") has recently invested in and formed a capital alliance with Chikiriya Co., Ltd. (Headquarters: Takamatsu City, Kagawa Prefecture; Representative Director and President: Koichiro Chigiriya; hereinafter "Chikiriya") through the "JR Shikoku Relationship Fund No. 1 Investment Limited Partnership" (hereinafter "Shikoku Relationship Fund"), which is wholly owned by Shikoku Railway Company (Headquarters: Takamatsu City, Kagawa Prefecture; Representative Director and President: Kazuyuki Shinomiya; hereinafter "JR Shikoku").
Chikiriya was founded in 1948. It is a long-established local Western confectionery shop, widely popular for its bakery "Harukazedo" and Western confectionery shop "La Famille." In addition, its online sales feature nationally popular products such as "Ogon Baumkuchen" and "Masshoku Cheesecake," and popular tourist souvenirs like "Konpira Pudding" and "Dogo Pudding." For 78 years, Chikiriya has continued to weave tradition and innovation, creating products and brands that utilize local ingredients. To preserve its tradition as a Western confectionery shop in Shikoku while continuing reform and growth, Chikiriya has now partnered with the Shikoku Relationship Fund as a "capital and management partner," ensuring neutrality, independence, and regional relevance.
Going forward, through collaboration with the JR Shikoku Group, they will jointly create opportunities for new challenges, such as developing new sales floors and stores, creating collaborative products and new business formats, and pioneering new sales channels. They will also promote the sharing and effective utilization of tangible and intangible management resources held by both parties, such as locations (station buildings, hotels, events), customers (passengers, hotel guests, etc.), human resources, sales floors, logistics, and storage/management, aiming to create business and management synergies.
Chikiriya's management will continue under the current President, Koichiro Chigiriya, as Representative Director and President. JPE will participate in management as an outside director, acting as a "management support team," to jointly achieve further growth and ensure the reliable succession of this important business to the next generation.
For JPE, Chikiriya is its 38th investment nationwide and its first investment in Shikoku. In this capital alliance, J-Marche Co., Ltd. (hereinafter "J-Marche"), a holding company established by the Shikoku Relationship Fund operated by JPE as a 100% shareholder, will become Chikiriya's new shareholder.
J-Marche plans to expand its scope to include small and medium-sized enterprises in Shikoku's sweets industry, such as Western confectionery, Japanese confectionery, famous confectionery, souvenir confectionery, and local confectionery, as well as related companies involved in the production and distribution of sweets ingredients. Through J-Marche, they will build capital connections and create business synergies by investing in and acquiring shares of these companies.
JPE will continue, through the Shikoku Relationship Fund, to invest primarily in Shikoku in "small and medium-sized enterprises that wish to achieve both business succession and growth" and "small and medium-sized enterprises that develop businesses contributing to collaboration with JR Shikoku and the development of Shikoku's economy, society, and culture." By growing together with local businesses, JPE aims to promote the revitalization of regions, industries, and human resources, creating a "virtuous cycle of growth" through the fund and fulfilling its "regional significance" through co-prosperity.
## Company Overviews (in no particular order) *As of March 31, 2026
### Chikiriya Co., Ltd. https://chikiriya.jp/
・Headquarters: 4-7 Marugamemachi, Takamatsu City, Kagawa Prefecture
・Established: March 17, 2009 (Founded: 1948)
・Representative: Koichiro Chigiriya, Representative Director and President
・Capital: 10 million yen
・Employees: 119 (as of March 2026, including part-timers)
・Business Activities: Operates bakery "Harukazedo," Western confectionery shop "La Famille," authentic handmade pudding specialty shops "Konpira Pudding" and "Dogo Pudding," etc.
### JR Shikoku Relationship Fund No. 1 Investment Limited Partnership https://jr-shikoku-fund.jp/
・Fund Name: JR Shikoku Relationship Fund No. 1 Investment Limited Partnership
・Established: October 3, 2023
・Fund Size: 2 billion yen
・Investment Targets: Medium-sized, small, and startup companies nationwide that contribute to the development of the Shikoku region.
— Acquiring shares through "J-Marche," which forms an alliance in Shikoku's sweets industry.
— Aiming for further growth through business collaboration with JR Shikoku and a transition to organizational management.
— Chikiriya is JPE's 38th investment, and its first in Shikoku.
Japan Private Equity Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; Representative Director and President: Shinichi Hoda; hereinafter "JPE") has recently invested in and formed a capital alliance with Chikiriya Co., Ltd. (Headquarters: Takamatsu City, Kagawa Prefecture; Representative Director and President: Koichiro Chigiriya; hereinafter "Chikiriya") through the "JR Shikoku Relationship Fund No. 1 Investment Limited Partnership" (hereinafter "Shikoku Relationship Fund"), which is wholly owned by Shikoku Railway Company (Headquarters: Takamatsu City, Kagawa Prefecture; Representative Director and President: Kazuyuki Shinomiya; hereinafter "JR Shikoku").
Chikiriya was founded in 1948. It is a long-established local Western confectionery shop, widely popular for its bakery "Harukazedo" and Western confectionery shop "La Famille." In addition, its online sales feature nationally popular products such as "Ogon Baumkuchen" and "Masshoku Cheesecake," and popular tourist souvenirs like "Konpira Pudding" and "Dogo Pudding." For 78 years, Chikiriya has continued to weave tradition and innovation, creating products and brands that utilize local ingredients. To preserve its tradition as a Western confectionery shop in Shikoku while continuing reform and growth, Chikiriya has now partnered with the Shikoku Relationship Fund as a "capital and management partner," ensuring neutrality, independence, and regional relevance.
Going forward, through collaboration with the JR Shikoku Group, they will jointly create opportunities for new challenges, such as developing new sales floors and stores, creating collaborative products and new business formats, and pioneering new sales channels. They will also promote the sharing and effective utilization of tangible and intangible management resources held by both parties, such as locations (station buildings, hotels, events), customers (passengers, hotel guests, etc.), human resources, sales floors, logistics, and storage/management, aiming to create business and management synergies.
Chikiriya's management will continue under the current President, Koichiro Chigiriya, as Representative Director and President. JPE will participate in management as an outside director, acting as a "management support team," to jointly achieve further growth and ensure the reliable succession of this important business to the next generation.
For JPE, Chikiriya is its 38th investment nationwide and its first investment in Shikoku. In this capital alliance, J-Marche Co., Ltd. (hereinafter "J-Marche"), a holding company established by the Shikoku Relationship Fund operated by JPE as a 100% shareholder, will become Chikiriya's new shareholder.
J-Marche plans to expand its scope to include small and medium-sized enterprises in Shikoku's sweets industry, such as Western confectionery, Japanese confectionery, famous confectionery, souvenir confectionery, and local confectionery, as well as related companies involved in the production and distribution of sweets ingredients. Through J-Marche, they will build capital connections and create business synergies by investing in and acquiring shares of these companies.
JPE will continue, through the Shikoku Relationship Fund, to invest primarily in Shikoku in "small and medium-sized enterprises that wish to achieve both business succession and growth" and "small and medium-sized enterprises that develop businesses contributing to collaboration with JR Shikoku and the development of Shikoku's economy, society, and culture." By growing together with local businesses, JPE aims to promote the revitalization of regions, industries, and human resources, creating a "virtuous cycle of growth" through the fund and fulfilling its "regional significance" through co-prosperity.
## Company Overviews (in no particular order) *As of March 31, 2026
### Chikiriya Co., Ltd. https://chikiriya.jp/
・Headquarters: 4-7 Marugamemachi, Takamatsu City, Kagawa Prefecture
・Established: March 17, 2009 (Founded: 1948)
・Representative: Koichiro Chigiriya, Representative Director and President
・Capital: 10 million yen
・Employees: 119 (as of March 2026, including part-timers)
・Business Activities: Operates bakery "Harukazedo," Western confectionery shop "La Famille," authentic handmade pudding specialty shops "Konpira Pudding" and "Dogo Pudding," etc.
### JR Shikoku Relationship Fund No. 1 Investment Limited Partnership https://jr-shikoku-fund.jp/
・Fund Name: JR Shikoku Relationship Fund No. 1 Investment Limited Partnership
・Established: October 3, 2023
・Fund Size: 2 billion yen
・Investment Targets: Medium-sized, small, and startup companies nationwide that contribute to the development of the Shikoku region.