Asahi Yukizai Corporation cancelled the acquisition of an additional 33% stake in Asahi Av Trading Co.,Ltd.
September 12, 2018
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Asahi Yukizai Corporation (TSE:4216) concluded a basic agreement to acquire an additional 33% stake in Asahi Av Trading Co.,Ltd. on September 13, 2017. Conclusion of the share transfer contract is scheduled for January 31, 2018. Under the terms of the acquisition, Asahi Yukizai Corporation will acquire 0.019 million shares. After the completion of the transaction, Asahi Yukizai Corporation will hold 0.41 million shares representing 69% stake. In a related transaction, Asahi AV Japan Corporation agreed to acquire Asahi Av Trading Co.,Ltd. from Asahi Yukizai Corporation on September 13, 2017. After the completion of the transaction, Asahi Av Trading Co.,Ltd. will be dissolved. During the financial year ended March 2017, Asahi Av Trading Co.,Ltd. reported net assets of ¥1.25 billion, total assets of ¥3.2 billion, operating profit of ¥55 million, revenue of ¥4.77 billion and net profit of ¥47 million. The transaction is subject to shareholders of Asahi Av Trading Co.,Ltd. scheduled on February 15, 2018. The transaction has been approved by the Board of Directors of Asahi Av Trading Co.,Ltd. The expected date of the transaction scheduled for April 2, 2018.
Asahi Yukizai Corporation (TSE:4216) cancelled the acquisition of an additional 33% stake in Asahi Av Trading Co.,Ltd. on September 13, 2018.
ASAHI YUKIZAI CORPORATION is a Japan-based company mainly engaged in the development, manufacture and sale of industrial resin and plumbing equipment products. The Company operates its business through three business segments. The Pipe System segment is involved in the manufacture and sale of piping materials made of synthetic resin such as vinyl chloride, as well as the design and construction of piping works. The Resin segment manufactures and sells casting resins, resin coated sand for castings, resins for general industrial use, resins for foam materials, resins and derivatives for electronic materials, and resin molding materials. The Water Treatment & Resource Development segment is involved in the design, construction, maintenance and management of water treatment facilities, as well as the design and construction of drilling wells.
ASAHI YUKIZAI CORPORATION 
