Sugita Ace Co.,Ltd. cancelled the acquisition of remaining 0.03% stake in Tokuda Mashimo Ace Co., Ltd.
January 28, 2020
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Sugita Ace Co.,Ltd. (JASDAQ:7635) agreed to acquire the remaining 0.03% stake in Tokuda Mashimo Ace Co., Ltd. on January 29, 2019. The merger agreement is expected to be concluded on February 27, 2019. As of January 29, 2019, Sugita Ace Co.,Ltd. holds 99.97% stake in Tokuda Mashimo Ace Co., Ltd. For the year ended March 31, 2018, Tokuda Mashimo Ace Co., Ltd. had net assets of ¥483 million, total assets of ¥1.1 billion, sales of ¥2.4 billion and operating income of ¥19 million. The transaction was resolved by the Board of Directors of Sugita Ace Co.,Ltd. on January 29, 2019 and is expected to close on April 1, 2019.
Sugita Ace Co.,Ltd. (JASDAQ:7635) cancelled the acquisition of remaining 0.03% stake in Tokuda Mashimo Ace Co., Ltd. on January 29, 2020.
SUGITA ACE CO., LTD. is engaged in the sale of construction hardware and construction-related materials. The Company operates in three business segments. The Root segment is engaged in the sales of residential materials and building materials to secondary wholesale stores, hardware stores and construction material stores. The Engineering segment offers residential materials and building materials to construction material stores and sales construction stores, takes into account the added value of design, processing, construction based on the unique know-how. The Direct Needs segment is engaged in the sales of do it yourself (DIY) products, original equipment manufacturer (OEM) related materials and other products for general retailers such as home centers, mail order companies and department stores.