Fuku-Bonsai is a for-profit Hawaiian corporation that will have the lead role, take all financial risks, and earn potential profits. It owns the most varied exhibit quality collection of Japanese bonsai, Chinese penjing, Hawaiian tropical outdoor bonsai, and its pioneering specialty True Indoor Bonsai™. It’s the result of 50 years of bonsai dedication and being COMMITTED AND GROWING FOR THE FUTURE!
Fuku-Bonsai evolved from David and Myrtle Fukumoto’s hobby since 1962 that became a sole proprietor nursery that moved to the Big Island of Hawaii in 1973. As the first Hawaii State certified export nursery it ships to all parts of the United States. It evolved into a corporation in 1985 to own and operate both the Kurtistown nursery and a Kona Fuku-Bonsai Center. The first 27 bonsai years were filled with major successes as part of a Hawaiian team that helped to create “International Bonsai” and as a innovative pioneering nursery that developed the easiest and most successful form of popular bonsai that anyone, anywhere who can grow houseplants!
But, four years into the corporation, in 1989 defective Benlate contaminated with weedkillers caused over $30 million of losses including the loss of the Kona center. It required total reinvention of the company, including new crops and business plan. The total net proceeds of the 1994 product liability and the 2007 DuPont fraud settlements after taxes and legal cost were less than 10% of losses. We are ending our 23-year long battle for survival, entering a new era, and moving back to our original corporate goal of creating an international bonsai Mecca. To do so we must first develop sufficient working capital. The initial goal is to raise $250,000 in a variety of ways and “to go public and into the future!”
Mid-Pacific Bonsai Foundation is a 501(3)(c) non-profit foundation formed in 1986 by the original Fuku-Bonsai stockholders to serve as the public guardian of donated memorial bonsai and artifacts to be a part of the Hawaii State Bonsai Repository at the Fuku-Bonsai Cultural Center. During the difficult years, the Foundation helped to keep the bonsai collection alive. It will co-sponsor the center, lead educational activities, and develop a national email membership. Both organizations will share the www.fukubonsai.com website.
Mid-Pacific Bonsai Foundation is already the largest stockholder behind founders David and Myrtle Fukumoto due to generous gifts of Fuku-Bonsai stock and funds primarily by the original stockholders. It receives modest donations by Fuku-Bonsai Cultural Center visitors. We seek to raise tax-deductible funds to the Foundation to help finance this project, including purchase of Fuku-Bonsai Inc. stock to be donated to the Foundation.
The Foundation will one day be the largest Fuku-Bonsai Inc. stockholder and its directors will play a stronger oversight role to guide career managers and staff. In this way the Foundation will play a major role in the post-Fukumoto succession plan. Another goal of this project is to establish sufficient dedicated income sources for the Foundation to add to future Fuku-Bonsai Inc. annual corporate dividends.
YOU ARE CORDIALLY INVITED TO BE A PART!
Our first 27 years of bonsai were very successful as part of a Hawaiian team (with World War II generation leaders) who played an international role. Fuku-Bonsai pioneered the export nursery industry with direct marketing of branded value-added products as a part of the developing Big Island visitor industry. Strong nursery profitability produced steady growth and an asset base and we produce results with limited funds.
The 23-year battle for survival was far more difficult and we hunkered down to make progress with far less funds. The epic battle sapped our resources and we lost a very special generation of supporters. We need to recapitalize and rebuild our support base to create a world class project.
Profitable visitor attractions are rare; but without cultural attractions, visitor destinations become “touristy.” Being the last major Hawaiian island to develop, we want the Big Island to retain its multiculturalism for ourselves and to share with visitors. To do this, the locals MUST become involved in the visitor industry. In the 1980’s as tourism began on the Big Island, the late mayor Herbert Matayoshi encouraged Big Islanders to develop valid cultural attractions with the goal of creating the Big Island visitor industry with the cultural flavor of a Kyoto, Japan, or a San Francisco or a New Orleans. Herbert (and Mary) Matayoshi and his managing director Megumi Kon were amongst the first Fuku-Bonsai stockholders.
Fuku-Bonsai has assembled all needed bonsai elements, including a nursery capable of producing large quantities of the highest quality plants that are certified to ship to all parts of the United States. Our True Indoor Bonsai™ are the most successful gift bonsai for anyone, anywhere who can grow houseplants. It is the ideal “Popular American Bonsai” and now anyone can grow bonsai!
The Introductory Workshop Package was a breakthrough and the long-sought “Educational Bonsai Holy Grail” that is the easiest and most successful way to learn (or teach) bonsai. It features a 2-4 year pretrained plant and nine other carefully selected components that make possible “Create Your First Bonsai” workshops that can be given to Big Island visitors first at the Kurtistown Fuku-Bonsai Cultural Center, then at a West Hawaii location, and at several hotel-resorts in the future. We are gearing up for 1,000 workshops per week as part of the project: "MAKING THE BIG ISLAND AN INTERNATIONAL BONSAI MECCA!"
PERSEVERANCE, PRUDENCE AND PROGRESS!
Currently, we are not consistently into positive cashflow and cannot obtain institutional loans. There are still several ways to raise the necessary funds and each category includes multiple participants. In 1985 when the corporation was formed, Fuku-Bonsai was highly profitable and the operational income subsidized the building of the Kona Fuku-Bonsai Center. Just as we raised over $2,000,000 to build the Kona Fuku-Bonsai Center between 1985 to 1990 with over 200 Fuku-Bonsai stockholders, this will be a long on-going grassroots effort requiring commitment and prudent leadership.
PRIVATE LOANS. Initially we will raise up to $250,000 of private loans to provide working capital to start the project and to cover any shortfall until we are consistently into positive cashflow. The 12-acre Fuku-Bonsai Kurtistown property with all improvements is still mortgage-free to use as first mortgage collateral for private loans that will pay "prime + 3% (currently 6.25%). Between 1985 and 1987 private lenders provided over $250,000 of private loans to purchase the 17-acre Kona Fuku-Bonsai Center property. Private loans can be in $5,000 increments with all private lenders proportionally sharing the first mortgage collateral. If you can make private loans, please contact me for more details.
PURCHASE OF FUKU-BONSAI STOCK. Stock should only be purchased as a form of support rather than as a pure equity investment. Stock is priced at $25 per share based on a conservative estimate of corporate net worth divided by outstanding shares. Land and replacement value of improvements exceed $1,000,000. Value of nursery plant inventory exceed $6,000,000. These are exceeded by other assets that are difficult to place a value on including: a) The bonsai, artifacts, and pot collection. b) Goodwill and value of reputation acquired over 50 years and with over 100 articles published. c) The value of bonsai proprietary techniques and “True Indoor Bonsai™” trademark. And d) The value of micro-lobster proprietary information and “Amazing Hawaiian Micro-Lobsters!™” trademark. The stock is not liquid and there are restrictions. Please request more information if interested.
DONATIONS AND MEMBERSHIPS IN MID-PACIFIC BONSAI FOUNDATION (MPBF). Currently Fuku-Bonsai underwrites over 95% of all expenses. As co-sponsor and the designated educational leader, MPBF can contribute up to 50% of the costs without jepardizing their 501(3)(c) non-profit status. The Foundation will raise funds in a number of ways and we invited individuals, corporate sponsors, and bonsai organizations to become members and participate in the Donor and Corporate Sponsor Program.
We will make progress and utilize available funds in the most efficient manner possible. We will strive to produce acceptable results with a commitment to continue to improve forever as funds become available. If we never give up, if we stay solvent at all times, we will one day make all necessary progress to achieve our goals. This is a second guiding principle that made it possible to make initial progress when we incorporated and as we went through our 23-year battle for survival. We will follow this principle for our project: “MAKING THE BIG ISLAND OF HAWAII AND INTERNATIONAL BONSAI MECCA!”
It’s time to start and I invite you to be a part!
CONTENTS OF THIS WEBSITE PORTAL SECTION
|PROJECT INTRODUCTION. This project has roots in a Fukumoto family hobby begun in 1962 and is launched on their 50th year in bonsai. It really is a relaunch that began in 1985 when the corporation was formed specifically to build an international bonsai center. It began but was side-tracked and Fuku-Bonsai was forced to fight a 23-year battle for survival! So we start again and invited all interested parties to participate either as Fuku-Bonsai stockholders or as members of the non-profit Mid-Pacific Bonsai Foundation which will one day be the largest Fuku-Bonsai stockholder.|
|*** Go to the Mid-Pacific Bonsai Foundation Home Page|