Lib Work Co.,Ltd. agreed to acquire Takuei Home Co., Ltd. from Matsuji Nagatani and Kazuko Nagatani for ¥350 million.
May 10, 2020
Share
Lib Work Co.,Ltd. (TSE:1431) agreed to acquire Takuei Home Co., Ltd. from Matsuji Nagatani and Kazuko Nagatani for ¥350 million on May 11, 2020. Under the terms, Lib Work will acquire 6,928 shares from Matsuji Nagatani and 3,063 shares from Kazuko Nagatani , representing 69.34% and 30.66% stakes respectively in Takue Home. For year ended September 2019, Takue Home had total assets worth ¥1 billion, net worth of ¥260 million, sales of ¥2.4 billion, operating income of ¥92 million and net income of ¥57.9 million. The board of Lib Work provided the resolution on May 11, 2020. The acquisition is expected to complete on July 1, 2020. The impact of the Share Acquisition on Lib Work's business performance is currently under scrutiny. Lib Work paid advisory fees of ¥50 million.
Lib Work Co., Ltd., formerly SK home Co., Ltd. is a Japan-based company principally engaged in the detached residential business. The Company is engaged in the planning, design, sale, construction and supervision of custom homes such as residential houses, condominiums and others. The Company is also engaged in the real estate sale business, and the renovation and remodeling businesses in association with the detached residential business.