I'rom Group Co., Ltd. entered into contract to acquire Ethic Co., Ltd. from Yasutomo Yamauchi, Shitotomo Yamauchi, and other sellers for ¥96.8 million.
March 30, 2017
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I'rom Group Co., Ltd. (TSE:2372) entered into contract to acquire Ethic Co., Ltd. from Yasutomo Yamauchi, Shitotomo Yamauchi, and other sellers for ¥96.8 million on March 31, 2017. Under the terms, I'rom Group will exchange one share of Ethic Co Ltd into 10 shares of the I'rom Group Co., Ltd. I'rom Group Co., Ltd will issue 0.07 million shares. I'rom Group Co., Ltd. will operate Ethic Co., Ltd. as wholly owned subsidiary. During the year ended March 2016, Ethic Co., Ltd. had net assets of ¥96 million, total assets of ¥3.67 billion, sales of ¥1.62 billion, and operating loss of ¥271 million. The transaction is subject to approval of shareholders meeting scheduled on April 19, 2017. I'rom Group Co., Ltd. and Ethic Co., Ltd made a resolution in favor of the transaction on March 31, 2017. The transaction is expected to complete on June 1, 2017. Tokyo Financial Advisers acted as third party appraiser to I'rom Group Co., Ltd.
I'rom Group Co.,Ltd. is engaged in medical fields such as regenerative medicine and gene discovery. The Company operates through four business segments. The SMO segment provides support services for contracting or substituting a part of the work related to conducting clinical trials from the conducting medical institution. The CRO segment provides all or part of clinical trial operations from pharmaceutical companies and others. The Advanced Medicinal Treatment segment is engaged in the development of gene therapy products, the development, manufacture and sale of products in the field of regenerative medicine based on iPS cells related technologies, as well as the provision of contract manufacture services. The Medical Support segment provides general and comprehensive support for medical business management, such as setting up and renting clinic malls, selling products and related services. The Company also provides business utilizing IT infrastructure.
I'rom Group Co., Ltd. entered into contract to acquire Ethic Co., Ltd. from Yasutomo Yamauchi, Shitotomo Yamauchi, and other sellers for ¥96.8 million.
I'ROM GROUP CO., LTD. 
