Apparel maker Renown to come under wing of China's Shandong Ruyi

Apparel maker Renown to come under wing of China's Shandong Ruyi

TOKYO, Japan - Minoru Kitabatake (R), president of struggling Japanese apparel maker Renown Inc., attends a news conference in Tokyo on May 24, 2010, during which he announced that the company will form a business and capital alliance with Chinese textile firm Shandong Ruyi, and come under its wing. Renown will be one of the latest cases of Japanese companies to be acquired by a Chinese company.

All 5 Renown board members to resign in late May

All 5 Renown board members to resign in late May

TOKYO, Japan - Minoru Kitabatake (R), who will become the president of apparel maker Renown Inc., speaks at a news conference in Tokyo on April 15. Kitabatake, the 47-year-old head of the company's planning department, will replace President Minoru Nakamura (L) after a general shareholders meeting on May 28.

All 5 Renown board members to resign in late May

All 5 Renown board members to resign in late May

TOKYO, Japan - Minoru Kitabatake (R), who will become the president of apparel maker Renown Inc., speaks at a news conference in Tokyo on April 15. Kitabatake, the 47-year-old head of the company's planning department, will replace President Minoru Nakamura (L) after a general shareholders meeting on May 28. (Kyodo)

Apparel maker Renown to come under wing of China's Shandong Ruyi

Apparel maker Renown to come under wing of China's Shandong Ruyi

TOKYO, Japan - Minoru Kitabatake (R), president of struggling Japanese apparel maker Renown Inc., attends a news conference in Tokyo on May 24, 2010, during which he announced that the company will form a business and capital alliance with Chinese textile firm Shandong Ruyi, and come under its wing. Renown will be one of the latest cases of Japanese companies to be acquired by a Chinese company. (Kyodo)