Asaka Riken Co., Ltd. completed the acquisition of 60% stake in Twinkle Metal (M) Sdn Bhd. from Ong Choon Heng and Teoh Lay Fung.
April 08, 2014 at 12:00 am EDT
Share
Asaka Riken Co., Ltd. (JASDAQ:5724) entered into contract to acquire 60% stake in Twinkle Metal (M) Sdn Bhd. from Ong Choon Heng and Teoh Lay Fung for ¥37 million on March 7, 2014. Asaka Riken Co., Ltd. will acquire 5.58 million shares. Ong Choon Heng holds 67.6% stake and Teoh Lay Fung holds 32.4% stake. For the eight month ending March 2013, Twinkle Metal had net assets of ¥1 million, total assets of ¥350 million, sales of ¥290 million, pre-tax net loss of ¥148 million, and net loss of ¥148 million. The transaction is expected to close on April 8, 2014. The advisory expenses of Asaka Riken are ¥10 million.
Asaka Riken Co., Ltd. (JASDAQ:5724) completed the acquisition of 60% stake in Twinkle Metal (M) Sdn Bhd. from Ong Choon Heng and Teoh Lay Fung on April 8, 2014.
Asaka Riken Co., Ltd. mainly operates in precious metal business and environment business. The Company operates in three segments. The Precious Metal segment is engaged in the separation, recovery, restitution and sale of precious metal such as gold, silver, platinum and palladium from substrate chips, defective products and waste. Its main products and services include gold bullion, silver bullion, platinum bullion and palladium, the recovery and processing of precious metal, the cleaning and recycle of jigs and the recycle of functional components. The Environment segment is engaged in the delivery and recycle of ferric chloride waste fluid, and the recovery and sale of copper. Its main products include aqueous ferric chloride, water treatment agent, copper powder and photocatalyst, among others. The System Entrusted Development segment operates in system entrusted development business. The Company also operates transportation business.
ASAKA RIKEN CO.,LTD. 
