Hikari Tsushin, Inc. agreed to acquire remaining 60.33% stake in Smart Navi Co.,Ltd. from Intea Holdings,Inc. and other shareholders for approximately ¥750 million.
January 19, 2014 at 11:00 pm
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Hikari Tsushin, Inc. (TSE:9435) agreed to acquire remaining 60.33% stake in Smart Navi Co.,Ltd. from Intea Holdings,Inc. (TSE:3734) and other shareholders for approximately ¥750 million on January 20, 2014. Under the terms, one share of Smart Navi will be exchanged for 2.648 shares of Hikari Tsushin, Inc. Hikari Tsushin will issue 0.09 million shares as consideration. Intea Holdings will sell 0.02 million shares of Smart Navi.
Smart Navi reported net assets of ¥950 million, total assets of ¥1.06 billion, sales of ¥1.13 billion, operating loss of ¥39 million and net loss of ¥302 million for year ended March 2013. The transaction is expected to complete on April 2, 2014.
Hikari Tsushin Inc is a holding company mainly engaged in the corporate service business, personal service business, and agency sales business. The Company operates through three business segments. The Corporate Service segment is engaged in the sale of products planned and developed in-house, such as communication line services, electric power, and various systems, to small and medium-sized enterprises. The Personal Service segment mainly sells products planned and developed in-house, such as communication line services and home water distribution, to individuals. The Agency Sales segment is engaged in the sale of various products such as telecommunications carriers, insurance companies, and manufacturers.
Hikari Tsushin, Inc. agreed to acquire remaining 60.33% stake in Smart Navi Co.,Ltd. from Intea Holdings,Inc. and other shareholders for approximately ¥750 million.
HIKARI TSUSHIN, INC. 
