Isezu Dry

Isezu Dry (イセヅドライ) is a Japanese dry-cleaning chain brand. It was founded in 1961 in Moriguchi, Osaka Prefecture, as Isezu Cleaning, initially using door-to-door sales. The business opened its first store in Moriguchi in 1964, installed a factory in Neyagawa, Osaka, in 1967 and introduced an agency-store system, and built a large centralized factory in 1971. In January 1975 it was incorporated as Isezu Dry Co., Ltd. (株式会社伊勢津ドライ). During the high-growth era, the company expanded, opening stores attached to supermarkets in the Keihanshin area, Nara Prefecture, and Mie Prefecture. By 2005 it operated about 200 stores, and its membership grew to about 100,000, helped by a low price of 100 yen per shirt. For the fiscal year ending January 2010, sales were about 1.78 billion yen. However, performance later deteriorated due to the rise of coin laundries and competition from peers. The company carried out scrap-and-build, but from the fiscal year ending January 2016 it posted operating losses for six consecutive years, compensating with insurance surrender proceeds and gains on sale of fixed assets. In September 2019, with support from the Osaka Prefecture Small and Medium Enterprise Revitalization Support Council, it asked financial institutions to reschedule repayments and announced a reconstruction plan centered on improving profitability through restructuring and the introduction of regular holidays. However, the spread of COVID-19, self-restraint on outings, and the penetration of telework rendered the reconstruction plan ineffective within only half a year. As business conditions continued to worsen, Isezu Dry applied to the Osaka District Court for civil rehabilitation proceedings on March 29, 2021, and received a decision to commence civil rehabilitation proceedings on April 16, 2021. Total liabilities were about 750 million yen. Young Dry, which had been selected as the civil rehabilitation sponsor, announced on July 29, 2021 that it would acquire all businesses operated by Isezu Dry, and on August 1, 2021, Young Dry took over all businesses from Isezu Dry. The rehabilitation scheme did not establish a successor company; instead, Young Dry directly acquired the business. Young Dry continued to use the Isezu Dry brand for stores acquired from the former Isezu Dry, expanded the Young Dry Group into Nara Prefecture, and increased its stores in the Kinki region to 140, including those operated under the Young Dry brand. After joining the Young Dry Group, the group's character "Hilby" was also used. The business formerly operated by Isezu Dry is to be rebuilt by the Young Dry Group. Young Dry aims to use the acquisition of Isezu Dry's business as a foothold to expand its business scale in metropolitan areas through M&A and to enhance cost competitiveness. Isezu Dry Co., Ltd. received a decision to discontinue civil rehabilitation proceedings on September 1, 2021, one month after the business transfer, and received a decision to commence bankruptcy proceedings from the Osaka District Court on September 27, 2021. The corporate entity was dissolved on January 23, 2023. The brand continues to operate under Young Dry Group, with stores in Osaka, Kyoto, Hyogo, Nara, and Mie prefectures.

Isezu Dry was founded in 1961 in Moriguchi, Osaka Prefecture, as Isezu Cleaning, initially using a door-to-door sales method. In 1964 it opened its first store in Moriguchi. In 1967 it installed a factory in Neyagawa, Osaka Prefecture, and introduced an agency-store system. In 1971 a new large centralized factory was completed. In January 1975 the business was incorporated as Isezu Dry Co., Ltd. (株式会社伊勢津ドライ). In 1985 three factories in Neyagawa were integrated, and the head office and factory were relocated to Katano, Osaka Prefecture. In 2004 the company began opening stores with attached coin laundries. By 2005 it operated about 200 stores, and membership reached about 100,000, supported by a low price of 100 yen per shirt. For the fiscal year ending January 2010, sales were about 1.78 billion yen. However, performance later deteriorated due to the rise of coin laundries and competition from peers. The company carried out scrap-and-build, but from the fiscal year ending January 2016 it posted operating losses for six consecutive years, compensating with insurance surrender proceeds and gains on sale of fixed assets. In September 2019, with support from the Osaka Prefecture Small and Medium Enterprise Revitalization Support Council, it asked financial institutions to reschedule repayments and announced a reconstruction plan centered on improving profitability through restructuring and the introduction of regular holidays. However, the spread of COVID-19, self-restraint on outings, and the penetration of telework rendered the reconstruction plan ineffective within only half a year. As business conditions continued to worsen, Isezu Dry applied to the Osaka District Court for civil rehabilitation proceedings on March 29, 2021, and received a decision to commence civil rehabilitation proceedings on April 16, 2021. Total liabilities were about 750 million yen. Young Dry, which had been selected as the civil rehabilitation sponsor, announced on July 29, 2021 that it would acquire all businesses operated by Isezu Dry, and on August 1, 2021, Young Dry took over all businesses from Isezu Dry. The rehabilitation scheme did not establish a successor company; instead, Young Dry directly acquired the business. Young Dry continued to use the Isezu Dry brand for stores acquired from the former Isezu Dry, expanded the Young Dry Group into Nara Prefecture, and increased its stores in the Kinki region to 140, including those operated under the Young Dry brand. After joining the Young Dry Group, the group's character "Hilby" was also used. The business formerly operated by Isezu Dry is to be rebuilt by the Young Dry Group. Young Dry aims to use the acquisition of Isezu Dry's business as a foothold to expand its business scale in metropolitan areas through M&A and to enhance cost competitiveness. Isezu Dry Co., Ltd. received a decision to discontinue civil rehabilitation proceedings on September 1, 2021, one month after the business transfer, and received a decision to commence bankruptcy proceedings from the Osaka District Court on September 27, 2021. The corporate entity was dissolved on January 23, 2023. The brand continues to operate under Young Dry Group, with stores in Osaka, Kyoto, Hyogo, Nara, and Mie prefectures.

• 2023

  January 23: Corporate entity dissolved.

• 2021

  March 29: Applied to the Osaka District Court for civil rehabilitation proceedings. April 16: Received decision to commence civil rehabilitation proceedings. July 29: Young Dry announced acquisition of all businesses. August 1: Young Dry took over all businesses. September 1: Received decision to discontinue civil rehabilitation proceedings. September 27: Received decision to commence bankruptcy proceedings.

• 2019

  In September, with support from the Osaka Prefecture Small and Medium Enterprise Revitalization Support Council, requested rescheduling of repayments and announced a reconstruction plan.

• 2016

  From fiscal year ending January 2016, posted operating losses for six consecutive years.

• 2010

  Fiscal year ending January 2010: sales of about 1.78 billion yen.

• 2005

  Operated about 200 stores; membership reached about 100,000.

• 2004

  Began opening stores with attached coin laundries.

• 1985

  Integrated three factories in Neyagawa and relocated head office and factory to Katano, Osaka Prefecture.

• 1975

  Incorporated as Isezu Dry Co., Ltd. in January.

• 1971

  Completed a new large centralized factory.

• 1967

  Installed a factory in Neyagawa, Osaka Prefecture, and introduced an agency-store system.

• 1964

  Opened the first store in Moriguchi.

• 1961

  Founded in Moriguchi, Osaka Prefecture, as Isezu Cleaning, using door-to-door sales.

Low-price, high-volume dry cleaning chain with supermarket-attached stores and a membership model.

• Dry cleaning services

• Laundry services

• Coin laundry (attached stores)

• Shirt cleaning (100 yen per shirt)

1. 1Isezu Dry - Wikidatawikidata.org
2. 2伊勢津ドライ - Wikipedia (Japanese)ja.wikipedia.org