Beauty Kadan Co., Ltd. completed the acquisition of My Success Corp. from Masayuki Aoki and Michiaki Hara for ¥200.
October 01, 2013 at 12:00 am EDT
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Beauty Kadan Co., Ltd. (TSE:3041) signed a memorandum of understanding to acquire My Success Corp. from Masayuki Aoki and Michiaki Hara on July 12, 2013. Beauty Kadan will acquire 200 shares of My Success Corp. Masayuki Aoki will sell 80% stake in My Success Corp and Michiaki Hara will sell 20% stake in My Success Corp. My Success Corp reported net liabilities of ¥37.95 million, total assets of ¥147.98 million, net sales of ¥1.11 billion, operating loss of ¥43.09 million, ordinary loss of ¥43.3 million and net loss of ¥43.37 million for the year ended March 31, 2013. The Board of Beauty Kadan Co resolved the deal on July 12, 2013. The agreement is expected to execute on August 9, 2013 and the deal is expected to close on September 1, 2013. As on August 9, 2013, the share transfer contract will be concluded by mid August 2013 and the stocks acquisition is scheduled by mid September 2013. As of September 13, 2013, the share transfer contract was signed.
Beauty Kadan Co., Ltd. (TSE:3041) completed the acquisition of My Success Corp. from Masayuki Aoki and Michiaki Hara for ¥200 on October 1, 2013.
Beauty Kadan Holdings Co Ltd, formerly Beauty Kadan Co Ltd, is mainly engaged in flower arrangements business for ceremonial occasions. The Company operates in three business segments. The Ikebana Altar segment is engaged in the production and sale of funeral-related products to funeral-related companies, including funeral services such as flower arrangement altars and offerings. The Ikebana Wholesale segment is engaged in the purchase of products suitable for customer needs, as well as the sale of flowers to funeral-related corporate customers and flower shops. The Bridal Flower Arranging segment is engaged in the production and sale of products for weddings, such as table flowers and bouquets. The Company is also engaged in system development business that sells, commissions, designs, and manufactures various systems, and funeral consulting business provides plan and consulting services for ceremonial occasions, as well as employment continuation support and agriculture business.