Helios Techno Holding Co., Ltd. completed the acquisition of 35.22% stake in Kansai Giken Co., Ltd.
August 31, 2013
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Helios Techno Holding Co., Ltd. (TSE:6927) entered into share exchange contract to acquire 35.22% stake in Kansai Giken Co., Ltd. for approximately ¥70 million in stock on May 10, 2013. Helios Techno Holding Co., Ltd. will issue 1,540 shares for each share of Kansai Giken Co., Ltd. Helios Techno Holding Co., Ltd. will issue 0.32 million treasury shares. In a related transaction, Helios Techno Holding Co., Ltd. entered into contract to acquire 64.78% stake in Kansai Giken Co., Ltd. from Masato Ishii, Shingo Ochi, Junichi Imai, employees and others for approximately ¥100 million in cash. Helios Techno Holding Co., Ltd. will operate Kansai Giken Co., Ltd as wholly owned subsidiary after the completion of both transactions. During the year ending December 2012, Kansai Giken had net assets of ¥191.91 million, total assets of ¥294.13 million, net sales of ¥228.87 million, operating income of ¥5.91 million, ordinary income of ¥10.81 million, and net income of ¥2.77 million. Board of Directors made a resolution in favor of the transaction on May 10, 2013. The share exchange does not require approval from Helios Techno Holding Co., Ltd.'s shareholders. The Kansai Giken's shareholders' meeting is scheduled for June 21, 2013. The transaction is expected to close on August 1, 2013.
Helios Techno Holding Co., Ltd. (TSE:6927) completed the acquisition of 35.22% stake in Kansai Giken Co., Ltd. on August 1, 2013.
Helios Techno Holding Co., Ltd. is a Japan-based company mainly engaged in the lamp business, manufacturing equipment business and human resources service business. The Company operates through three business segments. The Lamp segment is engaged in the manufacture and sale of projector lamps, halogen lamps for general lighting, as well as light emitting diode (LED) lamps. The Manufacturing Equipment segment is engaged in the manufacture and sale of alignment film printing equipment, special printing equipment, light source units for ultraviolet (UV) exposure equipment, as well as inspection and measurement equipment. The Human Resource Service segment is engaged in dispatching and contracting technical and general production workers.