Medius Holdings Co., Ltd. cancelled the acquisition of 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders.
March 21, 2014 at 12:00 am EDT
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Medius Holdings Co., Ltd. (JASDAQ:3154) entered into contract to acquire 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders for approximately ¥400 million in cash on March 21, 2013. Medius Holdings Co., Ltd. will acquire 3,210 shares of Akita Ika Kikaiten. In a related transaction, Medius Holdings Co., Ltd. will acquire 19.75% stake in Akita Ika Kikaiten, K.K. Michitoshi Sato will sell 60.75% stake and Shunsuke Sato will sell 18.62% stake. The six individual shareholders consist of executives and other shareholders. Medius Holdings Co., Ltd. will use funds in hand for the transaction.
Medius Holdings Co., Ltd. will operate Akita Ika Kikaiten, K.K. as wholly owned subsidiary upon completion of the 2 transactions. For the year ended March 2012, Akita Ika Kikaiten had net assets of ¥346 million, total assets of ¥1.43 billion, sales of ¥3.77 billion, operating profit of ¥36 million, current profit of ¥45 million, and net income of ¥31 million. Board of Directors of Medius Holdings resolved the acquisition on March 21, 2013. The transaction is expected to close on July 1, 2013. TY Consulting Co., Ltd. acted as appraiser for Medius Holdings.
Medius Holdings Co., Ltd. (JASDAQ:3154) cancelled the acquisition of 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders on March 21, 2014.
MEDIUS HOLDINGS Co., Ltd. is a Japan-based company mainly engaged in the sale and maintenance of medical equipment, as well as the sale and rental of nursing care equipment. The Company operates through two business segments. The Medical Equipment Sales segment sells medical equipment to domestic healthcare facilities, such as hospitals. The Care and Welfare business segment is engaged in sales and rental of nursing care equipment purchased from Japanese nursing and welfare equipment manufacturers, agents, trading companies, to medical institutions such as domestic hospitals and general individuals. In addition, the Company is also engaged in sales of nursing care and welfare equipment purchased from domestic and foreign manufacturers to medical institutions such as hospitals and medical material dealers.
Medius Holdings Co., Ltd. cancelled the acquisition of 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders.