Business Overview
Business Policy and Overview
Ichitan Group Public Company Limited , listed under the stock symbol ICHI on the Stock Exchange of Thailand,
began its journey as a limited company on September 3, 2010, and was officially listed as a public company on July 11, 2013, with its first trading day on April 21, 2014.
In 2024, the Company achieved a total sales revenue of Baht 8,594.4 million, with 94.2% generated from domestic sales and 5.8% from exports. Our key distribution partner, DKSH, accounts for 81.3% of our total revenue, reinforcing a strong and reliable distribution network.
The Board of Directors plays a vital role in guiding the Company’s vision, mission, strategic direction, and business plans. They also oversee budgeting efforts and ensure regular follow-ups on performance through the Executive Committee. With a focus on transparency and accountability, the Board helps monitor and evaluate management’s performance to ensure alignment with our short- and long-term strategic goals.
Business Goals
Ichitan Group Public Company Limited (the Company) aims to be a leader in the quality and innovative beverage business that grows together with a good society,
so the Company will focus on improving product quality and new products continuously to increase variety and consumer demand. This includes developing business opportunities to enhance competitiveness for domestic and abroads. The Company expects to develop new products on average 1-2 product categories per year by providing modern technology to support the production efficiency along with social responsibility and sustainability.
Key Performance Highlights
Driving Excellence Across Every Sip
Revenues from Sales in 2024
Revenues from Sales categorized by Geography
Domestic
Export
Revenues from Sales categorized by Brand
Ichitan Power Co., Ltd.
On February 8, 2017, the Company had established a subsidiary named "Ichitan Power Company Limited" with a registered capital of Baht 1,000,000 (one million baht) ,that had intended to conduct of distribution of all beverage business both domestic and foreign countries, including hold share of 99.9%.
On November 8, 2023, the Ichitan’s Board of Director approved to increase capital in a subsidiary amounting to Baht 75 million. The subsidiary increased its unauthorized share capital from Baht 1 million to Baht 76 million. However, the registration of the increase in share capital with the Ministry of Commerce has been completed on November 30, 2023.
On November 11, 2024, the Board of Directors' meeting resolved to approve the dissolution of the subsidiary, which is expected to be completed by December 2024 and the liquidation to be completed in 2025. However, the dissolution of the subsidiary is subject to the final approval of the shareholders of the subsidiary.
| Subsidiary Company | Ownership (%) | Registered Capital (Baht) | Paid-up Capital (Baht) | Investment Value (Baht) |
|---|---|---|---|---|
| Ichitan Power Co., Ltd. | 99.9 | 76,000,000 | 76,000,000 | 0 |
PT Ichi Tan Indonesia
On 27 August 2014, the Company entered into a joint venture agreement with PT Atri Pasifik (“AP”), a company incorporated in Indonesia, in order to invest in PT Ichi Tan Indonesia (“PTI”), a new joint venture established in Indonesia. The purposes of the joint venture are to produce and sell ready-to-drink beverage branded “Ichitan” in Indonesia. The Company and AP equally invested in the joint venture (50% of the issued and paid-up share capital of the joint venture) with investment value of Indonesian Rupiah 200,000 million. The Company paid for the first installment capital at the rate of 50% of the paid-up capital, amounting of Indonesian Rupiah 50,000 million. As of December 31, 2014, “PTI” became a jointly controlled entity of the Company.
On January 5, 2018, the Company received a funding call notice from the joint venture to call for an additional paid-up of totaling Indonesian Rupiah 60,000 million for purpose of working capital, and the Company paid the said fund on January 17, 2018 and the joint venture had registered to increase capital with the Indonesia Investment Coordinating Board on January 24, 2018.
On January 10, 2019, the Company received a funding call notice from the joint venture to call for an additional paid-up of totaling Indonesian Rupiah 45,000 million for purpose of working capital, and the Company paid the said fund on January 23, 2018 and the joint venture had registered to increase capital with the Indonesia Investment Coordinating Board on January 23, 2019.
The Shareholders’s meeting of PTI which held on December 16, 2021, the shareholders of PIT approved to reduce its owned issued and paid-up capital amounting to Indonesian Rupiah 90,000 million by reducing 45 million shares of Ichitan Group Public Company Limited in the amount of Indonesian Rupiah 45,000 million (or equivalent to Baht 97.4 million). The joint venture registered the reduction of share capital with the Ministry of Law and Human Right on February 16, 2022.
On December 13, 2023, the Extraordinary General Meeting of Shareholders of PT Ichi Tan Indonesia (“PTI”) approved the reduction of shares to reduce capital in PTI amounting to Indonesian Rupiah 35,000 million (or equivalent to Baht 77.9 million) and the joint venture has registered a capital reduction with the Ministry of Law and Human Rights on February 14, 2024.
| Joint Venture Company | Ownership (%) | Registered Capital (IDR Million) | Paid-up Capital (IDR Million) | Investment Value (Baht) |
|---|---|---|---|---|
| PT Ichi Tan Indonesia | 50 | 682,500 | 320,000 | 460.7 (50%) |