Adventure Inc. cancelled the acquisition agreed to acquire RADO Travel Service Co., Ltd. from Takashi Iwa, Takanosuke Abe, Takanori Sato and 7 others.
January 22, 2020
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Adventure Inc. (TSE:6030) agreed to acquire RADO Travel Service Co., Ltd. from Takashi Iwa, Takanosuke Abe, Takanori Sato and 7 others for approximately ¥980 million on January 23, 2019. As per the terms of transaction, Adventure will acquire 15,350 shares represent 30.7% stake from Takashi Iwa, Adventure will acquire 15,250 shares represent 30.5% stake from Takanosuke Abe, 9,550 shares represent 19.1% stake from Takanori Sato and 9,850 shares represent 19.7% stake from 7 others. Post completion, RADO Travel Service Co., Ltd will operates as wholly owned subsidiary of Adventure Inc. As on April 24, 2019, the deal value has been revised to ¥376 million. For the year ending October 2018, RADO Travel Service Co., Ltd. reported total assets of ¥750 million, net assets of ¥458 million, revenue of ¥6.2 billion and net loss of ¥25 million. The transaction has been resolved by Board of Directors of Adventure Inc. The Board of Directors passed a corporate resolution for the revision on April 24, 2019. The deal is expected to complete on January 23, 2019. As on April 24, 2019, the tentative contract conclusion date is April 25, 2019. The transaction has an advisory expense of ¥74 million. As on April 24, 2019, the revised advisory costs is ¥67 million.
Adventure Inc. (TSE:6030) cancelled the acquisition agreed to acquire RADO Travel Service Co., Ltd. from Takashi Iwa, Takanosuke Abe, Takanori Sato and 7 others on January 23, 2020.
Adventure Inc is a Japan-based company mainly engaged in consumer business to sell products and provide services to individuals and companies as well as investment business to invest in businesses and companies that can expect capital returns. The Company operates in two segments. The Consumer segment involves in the provision of travel goods and services, sales of tickets and sports apparel etc. The Investment segment involves in the investment to businesses or companies which has good potential and can expect capital returns.