Yamazen Corporation completed the acquisition of Toho Industrial Co.,Ltd. from consortium of sellers.
April 10, 2017
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Yamazen Corporation (TSE:8051) agreed to acquire Toho Industrial Co.,Ltd. from consortium of sellers for ¥1.5 billion on March 6, 2017. Yamazen Corporation concluded the share exchange contract to acquire Toho Industrial Co.,Ltd. from consortium of sellers on March 9, 2017. Under the terms of the transaction, Yamazen Corporation will allot 3,907 common shares for transfer for every common share of Toho Industrial Co.,Ltd. representing 1.46 million shares of Yamazen Corporation. After the completion of the transaction, Toho Industrial Co., Ltd. will become a wholly owned unit. During the year ended December 2016, Toho Industrial Co.,Ltd. reported net assets of ¥887 million, sales of ¥832 million, total assets of ¥1.3 billion and operating profit of ¥85 million. The deal was resolved by the Board of Yamazen Corporation. Toho Industrial Co.,Ltd. shareholders resolution meeting is scheduled for March 28, 2017 and the transaction is expected to be completed by April 11, 2017.
Yamazen Corporation (TSE:8051) completed the acquisition of Toho Industrial Co.,Ltd. from consortium of sellers on April 11, 2017.
YAMAZEN CORPORATION is a Japan-based company engaged in the sale of production goods, home building materials and household equipment products. The Company operates in three business segments. The Production Goods segment provides the machinery business and kiko business. The machinery business is engaged in the sale, import and export of machine tools, forging and sheet metal machines, machine tool peripherals. The kiko business is engaged in the sale, import and export of materials handling, mechatronics, environmental improvement equipment, cutting tools, steel processing machinery, air conditioning equipment. The Housing segment is engaged in the sale of kitchen appliances, cooking appliances, bathroom appliances, wash basins. The Household Equipment segment is engaged in the plan, development and sale of home appliances, interior goods, leisure and sports goods, pet supplies, gardening goods. The Company also provides event planning, travel mediation, storage business.
YAMAZEN CORPORATION 