TRENDERS Inc. has acquired Shiru-Shi, an e-commerce operations provider, to expand its marketing capabilities into consumer goods and apparel sectors.

Target Information

TRENDERS Inc. (Ticker: 6069), a company specializing in social media marketing, has announced the acquisition of Shiru-Shi, a firm based in Shibuya, Tokyo, that offers e-commerce mall operation services. This strategic move allows TRENDERS to expand its marketing support capabilities by integrating social media with e-commerce malls, broadening its focus beyond the beauty sector to include consumer goods and apparel. Previously, TRENDERS commenced a collaboration with Shiru-Shi in April aimed at enhancing beauty-related marketing, and now aims to solidify this partnership through the acquisition.

Shiru-Shi reported revenue of ¥909 million, operating profit of ¥323 million, and net assets of ¥160 million for the fiscal year ending February 2025. The parent company of Shiru-Shi manages two subsidiaries: “EC no Shiru-Shi,” which handles e-commerce mall operations, and “EC no Soudan Shitsu,” a web media management entity, both located in Shibuya, Tokyo.

Industry Overview

Japan's e-commerce industry has seen considerable growth, driven by an increase in online shopping habits among consumers, especially post-COVID-19. With mobile commerce on the rise and a tech-savvy population,

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Disclosed details

Transaction Size: $32M

Revenue: $8M

EBITDA: $3M

EBIT: $2M

Net Income: $0M

Enterprise Value: $8M

Equity Value: $8M


Multiples

EV/EBITDA: 2.8x

EV/EBIT: 4.1x

EV/Revenue: 1.0x

P/E: 56.5x

P/Revenue: 1.0x

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