On the 12th, Madras announced that it had acquired all of the businesses operated by Crown Shoes (formerly Crown Corporation), which is currently undergoing civil rehabilitation proceedings. After entering into a sponsorship agreement aimed at business rehabilitation and proceeding with negotiations regarding the acquisition of the former Crown Corporation's business, it was decided that Crown Shoes (New Crown Corporation), a wholly owned subsidiary of Madras, would be the acquiring company. The former Crown Corporation filed for civil rehabilitation protection with the Tokyo District Court on February 22nd of this year. Total debt was approximately 3.67 billion yen. The former Crown Corporation's business focused on branded shoes, including those from Katharine Hamnett, Lanvin en Bleu, and Castelbajac. Madras determined that leveraging Crown's product development capabilities and sales network as a group strength would enhance its corporate value.