TechnoEcho Co., Ltd. acquired a 30% stake in Astena Holdings Co., Ltd..
December 25, 2019
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Iwaki Co., Ltd. (TSE:6237) agreed to acquire remaining 30% stake in TechnoEcho Co., Ltd. from Noriyuki Yamanaka and Makoto Nagase, Directors of Iwaki for approximately ¥160 million on December 13, 2019. As per the terms, Iwaki shall acquire 60 shares of TechnoEcho. Presently, Iwaki holds 70%, Noriyuki Yamanaka holds 20% and Makoto Nagase holds 10% stake in TechnoEcho, respectively. Iwaki shall make TechnoEcho a wholly owned subsidiary as per the transaction. For the period ended March 2019, TechnoEcho reported sales of ¥306.1 million, total assets of ¥788.6 million, operating income of ¥47.3 million, net income of ¥35.2 million and net assets of ¥567 million. The transaction execution shall be on December 26, 2019.
TechnoEcho Co., Ltd. completed the acquisition of a 30% stake in Astena Holdings Co., Ltd. (TSE:8095) effective December 26, 2019.
Astena Holdings Co Ltd, formerly Iwaki & Co Ltd is a Japan-based company primarily engaged in the fine chemicals business, medical business, health & beauty care (HBC) and food business, and industrial chemicals business. The Company operates through four business segments. The Fine Chemicals segment is engaged in manufacture and sale of pharmaceutical raw materials and pharmaceuticals. The Medical segment is engaged in the manufacturing and sales of pharmaceutical products. The HBC and Food segment is engaged in the manufacture and sale of cosmetic raw materials, functional food raw materials, general use medicines and related products, as well as cosmetics. The Industrial Chemicals segment manufactures and sells chemicals for electronic industries, surface treatment chemicals, chemical products, surface treatment chemical raw materials, as well as to printed circuit board and other manufacturing plants. The other businesses include consulting services and others.
ASTENA HOLDINGS CO., LTD. 