ESC Co., Ltd. announced that it expects to receive ¥31.16 million in funding from ECONOS Co., Ltd.
July 13, 2016
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ESC Co., Ltd. announced a private placement of 134 common shares at ¥232,559.701492 per share for gross proceeds of ¥31,163,000 on July 14, 2016. The transaction will include participation from new investor ECONOS Co., Ltd. (SPSE:3136) to acquire 30.88% stake in the transaction. The company expects to complete the transaction on July 31, 2016. The transaction has been approved by the board of directors of the investor. The company will issue third party capital increase method.
ECONOS Co., Ltd. is a Japan-based company engaged in the reuse business and the low carbon business. The Company has two business segments. The Reuse segment is engaged in the operation of reuse shops BOOK OFF, HARD OFF, OFF House, Hobby OFF and Garage OFF. The BOOK OFF shops provide books, videos, game software and other products. The HARD OFF shops provide personal computers (PCs), musical instruments, watches, cameras, and other products. The OFF House shops provide brand goods and accessories, furniture, interiors, gifts, household goods, clothing, sports equipment, outdoor equipment and other products. The Hobby OFF shops provide hobby goods, trading cards and other toys. The Garage OFF shops provide tires, wheels, car audio, car parts, accessories and other products. The Low Carbon segment is engaged in the carbon offset provider business to provide emissions trading of greenhouse gas. The Company is also engaged in the real estate rental business and the mobile repair business.
ECONOS CO., LTD. 