What was once a major Tokyo-based seller of fishing nets has recently been attracting the attention of foreign and domestic investors, both individual and institutional, thanks to a unique business strategy and an astonishingly fast pace of growth.
BSL Corp., listed on the second section of the Tokyo Stock Exchange, has impressed investors over the past year with an 8.5-fold increase in consolidated sales to 12.6 billion yen, and a turnaround from a 4 million yen consolidated loss to a pretax profit of 1.2 billion yen.
BSL's improved financial performance, however, was the result of more than three years of effort to realize a dramatic metamorphosis from its core business -- fishing nets -- to modern-day investment.