Sharingtechnology.Inc cancelled the acquisition of SHIOTANI GLASS CO., LTD. from Kosuke Shiotani, Yuji Shiotani and sixteen individuals.
May 21, 2019
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Sharingtechnology.Inc (TSE:3989) signed a contract to acquire SHIOTANI GLASS CO., LTD. from Kosuke Shiotani, Yuji Shiotani and sixteen individuals for approximately ¥470 million on May 22, 2018. Under the terms of transaction, Sharingtechnology.Inc will acquire 0.08 million shares at ¥472.9 million. Sharingtechnology.Inc will acquire 29.4% stake from Kosuke Shiotani, 18.2% stake from Yuji Shiotani and 52.4% stake from sixteen individuals. Upon completion, SHIOTANI GLASS CO., LTD. will become wholly owned subsidiary of Sharingtechnology.Inc. For the year ended February 28, 2018, SHIOTANI GLASS CO., LTD. had net assets of ¥0.8 million, total assets of ¥1.4 million, sales of ¥0.62 million, operating loss of ¥0.05 million and net loss of ¥0.03 million. The transaction has been resolved by the Board of Sharingtechnology.Inc. The transaction is expected to be completed by late June 2018.
Sharingtechnology.Inc (TSE:3989) cancelled the acquisition of SHIOTANI GLASS CO., LTD. from Kosuke Shiotani, Yuji Shiotani and sixteen individuals on May 22, 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. 
