Kochi Co., Ltd. completed the acquisition of 25% stake in Express Contents Bank, K.K. from Jorudan Co. Ltd..
December 30, 2012 at 11:00 pm EST
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Kochi Co., Ltd. agreed to acquire 25% stake in Express Contents Bank, K.K. from Jorudan Co. Ltd. (JASDAQ:3710) for ¥88 million on November 14, 2012. Kochi Co., Ltd. is acquiring 315 shares of Express Contents Bank, K.K. representing 25% stake. For the year ended March 2012, Express Contents Bank, K.K. reported net assets of ¥181 million, total assets of ¥644 million, sales of ¥1.3 billion, operating profit of ¥36 million and net profit of ¥20 million. The transaction has been resolved by Board of Directors of Jorudan Co. Ltd.
Kochi Co., Ltd. completed the acquisition of 25% stake in Express Contents Bank, K.K. from Jorudan Co. Ltd. (JASDAQ:3710) on December 31, 2012.
Jorudan Co., Ltd. engages in manufacturing and sales of software Norikae used for path search and fare calculation, and provision of associated services. The Company operates through two business segments. The Transfer Guide segment engages in sales of Norikae products for personal computers and cell phones, provision of version upgrade services. It engages in sales of corporate-oriented products for corporations, provision of travel expense adjustment support, and provision of Web services for other companies and organizations. It also provides restaurant information on Internet. This segment obtains revenue through its service, including provision of pay service for mobile of Norikae, sales of advertising space and planning, as well as arrangement and sales of travel. The Multimedia segment provides content for Internet. It also provides book publishing services. The other business engages in entrust development of software and leasing of information related equipment.