Yamada Holdings Co.,Ltd. entered into a share exchange agreement to acquire remaining minority stakes in CIC Inc., Inversenet Inc., Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. from individual sellers for approximately ¥740 million.
January 17, 2021
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Yamada Holdings Co.,Ltd. (TSE:9831) entered into a share exchange agreement to acquire remaining minority stakes in CIC Inc., Inversenet Inc., Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. from individual sellers for approximately ¥740 million on January 18, 2021. As consideration,Yamada Holdings Co. plans to allocate and deliver its 1.35 million shares on the basis of allocation ratio of one share of the four target companies of 2,854.76459 for CIC Inc, 7.07481 for Inversenet Inc., 464.51277 for Tskuagoshi Electronics Service Co and 19.31204 for Iemamori Holdings Co. Yamada Holdings Co.,Ltd. held 84.6% stake, 77.1% stake, 76.9% stake and 80% stake in CIC Inc., Inversenet Inc., Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. respectively prior to the transaction. Following the transaction, each of CIC Inc., Inversenet Inc.,Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. will operate as wholly owned subsidiary of Yamada Holdings Co.,Ltd. For the fiscal year ending February 2020, CIC Inc., Inversenet Inc.,Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. reported net assets of ¥2.7 billion, ¥1.4 billion, ¥74 million and ¥111 million respectively, total assets of ¥4.4 billion, ¥4.2 billion, ¥233 million and ¥950 million respectively, sales of ¥7 billion, ¥15.7 billion, ¥131 million and ¥2 billion respectively, operating income of ¥276 million, ¥298 million, ¥10 million and ¥46 million respectively and net income of ¥177 million, ¥217 million, ¥8 million and ¥35 million respectively. The share exchange agreement is subject to approval of Extraordinary General Meeting of shareholders of each of the four target companies. The share exchange transaction was resolved at the Board of Directors meeting of Yamada Holdings Co. on January 18, 2021. The Extraordinary General Meeting of shareholders of CIC Inc., Inversenet Inc.,Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd is scheduled to be held on February 5, 2021. The share exchange is scheduled to take effect on February 25, 2021.
Yamada Holdings Co Ltd is mainly engaged in the business of selling home appliances and information appliances. The Company operates through two business segments. The Denki segment is engaged in the sale of home appliances such as televisions, refrigerators, and washing machines, as well as information appliances such as PCs and cell phones, and home renovation, furniture, interior design, and other products related to the home. The Housing Construction segment is engaged in the sale of detached houses and other housing units, and manufacture and sale of bathrooms, kitchens, and other housing equipment. It also operates environmental businesses, financial businesses, and businesses related to building materials.
Yamada Holdings Co.,Ltd. entered into a share exchange agreement to acquire remaining minority stakes in CIC Inc., Inversenet Inc., Tskuagoshi Electronics Service Co., Ltd. and Iemamori Holdings Co., Ltd. from individual sellers for approximately ¥740 million.
YAMADA HOLDINGS CO., LTD. 
