Cocolonet Co., Ltd. signed a share transfer contract to acquire Kitakanto Gojyo Centre Co., Ltd. from Shuko Hamatsu.
September 24, 2018
Share
Cocolonet Co., Ltd. (JASDAQ:6060) signed a basic agreement to acquire Kitakanto Gojyo Centre Co., Ltd. from Shuko Hamatsu on September 25, 2018. Share transfer contract is expected to be signed on October 10, 2018. As of October 10, 2018, Cocolonet Co., Ltd. (JASDAQ:6060) signed a share transfer contract to acquire Kitakanto Gojyo Centre Co., Ltd. from Shuko Hamatsu. Under the terms of the acquisition, 0.04 million shares will be acquired. Upon completion, Kitakanto Gojyo Centre will become wholly owned subsidiary of Cocolonet.
As of April 2018, Kitakanto Gojyo Centre reported net assets of ¥265 million and total assets of ¥1.4 billion. For the year ended April 2018, Kitakanto Gojyo Centre reported sales of ¥405 million, operating profit of ¥62 million and net income of ¥38 million. The Board of Directors of Cocolonet passed a resolution on the transaction on September 25, 2018. The transaction is expected to close on December 3, 2018.
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.