Sharingtechnology, Inc. cancelled the acquisition of 70% stake in Discover, Inc from Fumio Chiba.
August 28, 2019
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Sharingtechnology, Inc. (TSE:3989) concluded a contract to acquire 70% stake in Discover, Inc from Fumio Chiba on August 29, 2018. Under the terms, Sharingtechnology will acquire 70 shares of Discover. Post acquisition, Discover, Inc will become a subsidiary of Sharingtechnology. Discover, Inc reported net liabilities of ¥27.2 million, total assets of ¥3.9 million, sales of ¥48.5 million and operating loss of ¥22.8 million for the period ended March 2018. The transaction has been resolved by the Board of Directors of Sharingtechnology at the Extraordinary Meeting held on August 29, 2018. The transaction is expected to be completed by September 28, 2018.
Sharingtechnology, Inc. (TSE:3989) cancelled the acquisition of 70% stake in Discover, Inc from Fumio Chiba on August 29, 2019.
SHARINGTECHNOLOGY.INC is a Japan-based company mainly engaged in the Web business and investment business. It operates through two business segments. WEB business is engaged in the provision of solution to life problems through the operation of the portal site Life No.110 and the specialized vertical media site in the life service area. Member stores can provide services suited to the needs of users in the websites. Main services are unlocking and replacing keys, rain and water leakage, remodeling, glass repair, pet funeral, termite extermination, bee extermination, garden maintenance related, and other accidents that occur suddenly in daily life. It is also engaged in the operation of overseas studying service Sumadome, introducing foreign students and providing study abroad procedures. The new system Mover collects the geographical location of each member store staff and realizes matching. The Investment business includes manufacturing, real estate, and private hotel business.
SHARINGTECHNOLOGY, INC. 
