Global Medical Research Institute Co., Ltd. cancelled the acquisition of sports business from Yamano Holdings Corporation.
March 14, 2018
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Global Medical Research Institute Co., Ltd. agreed to acquire sports business from Yamano Holdings Corporation (JASDAQ:7571) for ¥1.5 billion in cash on March 15, 2017. Sport business includes 10 Powers stores, 3 Sports World stores, 1 S.R.C. store, 1 Shockwave store and 1 Ikebukuro Syuzanso store. As on January 31, 2017, Sport Business of Yamano Holdings Corporation reported total assets of ¥1.5 billion. The transaction has been resolved by the Board of directors of Yamano Holdings Corporation. The extraordinary shareholders’ meeting is scheduled on May 22, 2017. The transaction is expected to be completed on May 23, 2017.
Global Medical Research Institute Co., Ltd. cancelled the acquisition of sports business from Yamano Holdings Corporation (JASDAQ:7571) on March 15, 2018.
YAMANO HOLDINGS CORPORATION is engaged in the distribution and manufacture related to beauty. The Company operates in three segments. The Beauty segment is engaged in the management of beauty salons and nail salons. The Kimono Jewelry segment is engaged in the operation of clothing specialty stores in nationwide and sale of Japanese clothing through kimono related division, as well as the operation of jewelry store chains mainly in the Kanto region and sale of jewelry and accessories through jewelry-related division. The main products include kimono, diamond rings, fashion rings, necklaces, watches and fur. The DSM segment is engaged in the sale of various home appliances, clothing, jewelry, health-related products, and more. The main products include sewing machines, coats, suits, bags, fashion rings and necklaces. The other business involves prepaid special transaction business, dissemination and verification of kimono dressing, and financial business.