Beauty Kadan Co., Ltd. signed a basic agreement to acquire Kamon Flowergate Inc. from Takashi Hirano, Sadashi Hirano and others.
January 17, 2019
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Beauty Kadan Co., Ltd. (TSE:3041) signed a basic agreement to acquire Kamon Flowergate Inc. from Takashi Hirano, Sadashi Hirano and others on January 18, 2019. A total of 0.19 million shares will be acquired as part of the deal. Takashi Hirano, Sadashi Hirano will be selling 41.3% stake and 26.7% stake and others will be selling 32% stake in Kamon Flowergate. Share transfer contract is expected to be signed in mid July 2019. Kamon Flowergate reported net assets of ¥222.62 million, total assets of ¥686.8 million, sales of ¥1.98 billion, operating profit of ¥35.8 million and net income of ¥23.89 million as of February 2018. Board of Beauty Kadan resolved in favor of the deal on the same date. Deal is expected to close in end of July, 2019.
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.
BEAUTY KADAN HOLDINGS CO., LTD. 
