Cocolonet Co., Ltd. completed the acquisition of Tamahashi, Ltd. from Yu Tamahashi and Miwako Tamahashi.
December 30, 2017
Share
Cocolonet Co., Ltd. (JASDAQ:6060) concluded a basic agreement to acquire Tamahashi, Ltd. from Yu Tamahashi and Miwako Tamahashi on September 11, 2017. Cocolonet Co., Ltd. (JASDAQ:6060) entered into a share transfer agreement to acquire Tamahashi, Ltd. from Yu Tamahashi and Miwako Tamahashi on November 10, 2017. Under the terms, Cocolonet Co., Ltd. will acquire 3,000 shares, representing 100% voting rights in Tamahashi, Ltd. The acquisition price will be decided after future negotiations. As of September 11, 2017, each Yu Tamahashi and Miwako Tamahashi holds 50% stake in Tamahashi, Ltd. For the fiscal year ended May 2017, Tamahashi, Ltd. had net assets of ¥174 million, total assets of ¥188 million, sales of ¥295 million, operating income of ¥13 million and net income of ¥11 million. The transaction was resolved by the Board of Directors of Cocolonet Co., Ltd. on September 11, 2017. The share transfer agreement is expected to be concluded mid-November 2017 and the transaction is expected to complete on December 1, 2017.
Cocolonet Co., Ltd. (JASDAQ:6060) completed the acquisition of Tamahashi, Ltd. from Yu Tamahashi and Miwako Tamahashi on December 1, 2017.
Cocolonet CO.,LTD. is a Japan-based pure holding company mainly engaged in funerary business and related business. The Company operates in seven business segments. The Funerary segment involves in hosting of funeral ceremonies. The Stone Wholesale segment involves in wholesale business such as stone towers for stone retailers. The Stone Retail segment involves in sale of stone towers to general consumers. The Wedding segment involves in hosting of wedding ceremonies. The Fresh Flower segment involves in manufacturing, wholesale and retail of fresh flowers and artificial flowers products. The Mutual Aid Association segment involves in management of the association of ceremonies of coming of age, marriage, burial, and ancestral worship. The Nursing Care segment involves in management of housing for elderly with services, and nursing care support business.