AUTOBACS SEVEN : Announces Acquisition of Support-A Co., Ltd.
February 01, 2017 at 12:26 am EST
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January 31, 2017
AUTOBACS SEVEN Announces Acquisition of Support-A Co., Ltd.
AUTOBACS SEVEN Co., Ltd.
January 31, 2017 (Tokyo, Japan) - AUTOBACS SEVEN CO., LTD. (the "Company," Representative Director and Chief Executive Officer: Kiomi Kobayashi) announces that it has decided to acquire all the shares of Support-A Co., Ltd., a subsidiary of Tempstaff Co., Ltd. (President and Representative Director: Takao Wada). The details are as follows.
Reason for the transfer of shares
The Company group has been taking a variety of measures to improve the profitability of the Autobacs business. As part of these efforts, it has decided to acquire all the shares of Support-A Co., Ltd., whose businesses include a staffing business, so that the Company can secure and supply human resources stably for the businesses conducted in the chain including statutory inspections and maintenance, as well as further personnel development. With the transfer of shares, Support-A Co., Ltd. will become a wholly owned subsidiary of the Company.
Description of the new subsidiary (Support-A Co., Ltd.)
Company name
Support-A Co., Ltd
Location
1-24-8 Shibuya,Shibuya-ku,Tokyo
Representative
President : Hideki Fujii
Line of business
Temporary staffing, sales promotions, and provisioning of outsourced services.
Capital
JPY 91 million yen
Established
April 1970
Major shareholder
Tempstaff Co.,Ltd.100%
Present
relationship between the Company
Capital relationship
No relevant items
Personnel relationship
No relevant items
Business relationship
No relevant items
Related party transactions
Not applicable
※Undisclosed issues: Major shareholder, ratio of shareholdings, financial conditions and acquisition cost for shares (less than 15% of the Company's net assets)
Overview of the transferee Company
Company name
Tempstaff Co., Ltd
Location
Shinjuku Maynds Tower 2-1-1, Yoyogi, Shibuya-ku, Tokyo
Representative
President :Takao Wada
Line of business
Temporary staffing, fee-charging job placement, and child care
Capital
JPY 1,010 million yen
Established
May,1973
Major shareholder
Temp-holdings Co., Ltd 100%
Present
relationship between the Company
Capital relationship
No relevant items
Personnel relationship
No relevant items
Business relationship
No relevant items
Related party transactions
Not applicable
4． Key dates for transfer
（1）Date of the Board's resolution: January 31, 2017
（2）Date of Agreement: January 31, 2017
（3）Date of transfer of shares: February 24, 2017 (schedule)
5．Impact on forecasts of the Company
The above Agreement is not expected to have a material impact on the Company's business results for the current fiscal year ending March 31, 2017. If the Company presumes any impact on its business results for the fiscal year thereafter, it will include them in its earnings forecasts for the fiscal year ending March 31, 2017.
（Reference）
The relevant subsidiary will change its trade name subject to the approval of the extraordinary general meeting of shareholders to be held on February 24, 2017. Details are as follows.
Description of the new subsidiary after the change (plan)
Company name
Chain Growth Co., Ltd
Location
NBF Toyosu Canal Front., 6-52, TOYOSU 5-Chome, KOTO-KU, TOKYO
Representative
President : Hideki Sekiguchi
Line of business
Personnel training and consulting on personnel/labor matters
Capital
JPY 45 million yen
Settlement date
March 31
Major shareholder
Autobacs Seven Co., Ltd 100%
Disclaimer: Please note that this document is a summary translation of the Japanese press release and prepared for reference purposes only. We do not assure the correctness or completeness of this summary translation. Please note that this summary translation may be amended without notice, or be pulled from our website for such amendment purpose, etc., at our own discretion.
Autobacs Seven Co. Ltd. published this content on 31 January 2017 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 01 February 2017 05:26:06 UTC.
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Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
