Sharingtechnology.Inc cancelled the acquisition of Idealink Co., Ltd. from Naoki Shimabukuro.
November 05, 2018
Share
Sharingtechnology.Inc (TSE:3989) entered into a basic agreement to acquire Idealink Co., Ltd. from Naoki Shimabukuro for approximately ¥240 million on November 6, 2017. Sharingtechnology.Inc entered into an agreement to acquire Idealink Co., Ltd. from Naoki Shimabukuro on December 14, 2017. Sharingtechnology will acquire 0.1 million shares of Idealink and will hold 100% stake in Idealink after completion. Post completion, Idealink Co., Ltd. will operate as a wholly owned subsidiary. For the fiscal year ended January 2017, Idealink Co., Ltd. reported sales of ¥279.4 million, operating profit of ¥14.4 million, net income of ¥3.8 million, net assets of ¥13.8 million and total assets of ¥82.4 million. From November 6, 2017 to November 30, 2017, Sharingtechnology.Inc will implement due diligence on Idealink. A final contract is expected to be concluded in early December 2017 and the deal will close on December 28, 2017. The transaction is resolved by the Board of Sharingtechnology on December 14, 2017. As of December 14, 2017, the transaction is expected to complete on December 25, 2017.
Sharingtechnology.Inc (TSE:3989) cancelled the acquisition of Idealink Co., Ltd. from Naoki Shimabukuro on November 6, 2018.
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. 
