ALBIS Co., Ltd. cancelled the acquisition of remaining 87.9% in Orange Mart, K.K. from Hiroshi Kimura, Takashi Kimura and others.
October 30, 2019
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ALBIS Co., Ltd. (TSE:7475) concluded a basic agreement to acquire remaining 87.9% in Orange Mart, K.K. from Hiroshi Kimura, Takashi Kimura and others on October 31, 2018. A contract is expected to be signed from late January 2019 to mid-February 2019. The parties signed a share transfer contract as of January 31, 2019. As per terms, remaining 2,442 shares will be acquired and as of basic agreement date, the price is undecided. Hiroshi Kimura will sell 70.9% and Takashi Kimura will sell 12.5% stake. Post completion, Orange Mart, K.K. will operate as a subsidiary. For the year ended March 31, 2018, Orange Mart, K.K. reported revenues of ¥4.2 billion, total assets of ¥1.9 billion, operating profit of ¥14 million, net income of ¥19 million and net assets of ¥418 million. The Board of Directors of ALBIS Co., Ltd. resolved the deal on October 31, 2018. The deal is expected to close in late March 2019. As of January 31, 2019, the transaction is expected to be completed on April 1, 2019.
ALBIS Co., Ltd. (TSE:7475) cancelled the acquisition of remaining 87.9% in Orange Mart, K.K. from Hiroshi Kimura, Takashi Kimura and others on October 31, 2019.
ALBIS Co.,Ltd. is a Japan-based company mainly engaged in the supermarket business. Through its subsidiaries, the Company also involves in the manufacture of prepared food, meat processing, the manufacture and sale of tofu products, as well as provision of recycle services and acceptation of various business within the group.