Kawamoto Corporation agreed to acquire 90% stake in Zhejiang Kawamoto Health Care Products Co., Ltd from Shanghai Kawamoto Health Care Products Co., Ltd for CNY 60.3 million.
November 09, 2017
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Kawamoto Corporation (TSE:3604) agreed to acquire 90% stake in Zhejiang Kawamoto Health Care Products Co., Ltd from Shanghai Kawamoto Health Care Products Co., Ltd for CNY 60.3 million on November 10, 2017. Contract will be signed on December 1, 2017. Post-acquisition, Kawamoto Corporation will hold 90% stake in Zhejiang Kawamoto Health Care Products. For the fiscal year ended December 31, 2016, Zhejiang Kawamoto Health Care Products Co., Ltd reported sales of CNY 28.3 million, total assets of CNY 46.1 million, net assets of CNY 42.3 million, operating profit of CNY 0.13 million and net income of CNY 0.27 million. The transaction is resolved by the Board of Directors of Kawamoto Corporation. The transaction is expected to close on December 1, 2017.
KAWAMOTO CORPORATION is a manufacturing company mainly engaged in the manufacture and sale of sanitary materials, medical products, nursing care products, as well as the purchase and sale of medical products, nursing care products, childcare products and toiletry products. The Company operates through two business segments. The Medical segment is engaged in the manufacture, sale and purchase of sanitary materials, medical products, nursing care products and others for domestic and overseas medical institutions. The Consumers segment is engaged in the manufacture, purchase and sale of sanitary materials, medical products, nursing care products and childcare products for domestic consumers.
Kawamoto Corporation agreed to acquire 90% stake in Zhejiang Kawamoto Health Care Products Co., Ltd from Shanghai Kawamoto Health Care Products Co., Ltd for CNY 60.3 million.
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