UMENOHANA Co., Ltd. cancelled the acquisition of the remaining 28.24% stake in Koichian Co., Ltd. from Teruaki Hirata, Keizo Furukawa, Motoshi Fujita, Keiji Tatsumi and others.
August 04, 2015 at 12:00 am
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UMENOHANA Co., Ltd. (TSE:7604) signed a contract to acquire remaining 28.24% stake in Koichian Co., Ltd. from Teruaki Hirata, Keizo Furukawa, Motoshi Fujita, Keiji Tatsumi and others for ¥53.3 million in stock on August 4, 2014. For every 0.017 shares held in Koichian, shareholders other than UMENOHANA will receive 1 share of UMENOHANA. Prior to the deal, Teruaki Hirata owned 4.29%, Keizo Furukawa owned 2.52%, Motoshi Fujita owned 2.39% and Keiji Tatsumi owned 2.25%. For the period ending September 30, 2013, Koichian Co. had total assets of ¥2 billion, net liabilities of ¥151 million, sales of ¥8.6 billion, operating income of ¥192 million and net income of ¥133 million. The approval of the share exchange by the shareholding commission (Koichian) is expected on September 1, 2014. The transaction is expected to close by October 1, 2014. FAS Co., Ltd. will be acting as an independent valuer in the deal, as decided by the parties.
UMENOHANA Co., Ltd. (TSE:7604) cancelled the acquisition of the remaining 28.24% stake in Koichian Co., Ltd. from Teruaki Hirata, Keizo Furukawa, Motoshi Fujita, Keiji Tatsumi and others on August 4, 2015.
UMENOHANA CO., LTD. is a company mainly engaged in the operation of restaurants. The Company operates in three business segments. The Catering segment is engaged in the operation of Japanese and Chinese style restaurants under the names UMENOHANA, CHINA UMENOHANA and KANISHIGE, among others. It offers bean curd skin and bean curd course dishes, drinks, crab course dishes, Chinese course dishes and Chinese delicatessens. This segment is also engaged in the provision of take out services for lunch boxes and others, as well as the royalty business. The Takeout segment is engaged in the operation of takeout stores under the names KOICHIAN SUSHI and UMENOHANA. It offers sushi, rice, Shao-Mai (steamed pork dumplings), fried bean curd skin and wheat gluten. It is also engaged in the online sale of gift items. The others segment is involved in the export business, as well as manufacture and sale of processed fishery products.
UMENOHANA Co., Ltd. cancelled the acquisition of the remaining 28.24% stake in Koichian Co., Ltd. from Teruaki Hirata, Keizo Furukawa, Motoshi Fujita, Keiji Tatsumi and others.
UMENOHANA CO., LTD. 
