Beauty Kadan Co., Ltd. signed a basic agreement to acquire Shikitsu Kadan Co., Ltd. Smart Display Co., Ltd. and SK Kikaku Co., Ltd. from Yukio Hirata and Chiyoka Fukui.
November 07, 2013 at 11:00 pm EST
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Beauty Kadan Co., Ltd. (TSE:3041) signed a basic agreement to acquire Shikitsu Kadan Co., Ltd. Smart Display Co., Ltd. and SK Kikaku Co., Ltd. from Yukio Hirata and Chiyoka Fukui on November 8, 2013. Beauty Kadan Co., Ltd. is acquiring 75% stake in Shikitsu Kadan Co., Ltd. from Yukio Hirata and 25% stake from Chiyoka Fukui. Beauty Kadan Co., Ltd. is also acquiring Smart Display Co., Ltd. and SK Kikaku Co., Ltd. from Yukio Hirata. For the period ending March 2013, Shikitsu Kadan Co., Ltd reported total assets of ¥159.97 million, net assets of ¥87.44 million, sales of ¥877.03 million, operating profit of ¥2.22 million and net profit of ¥3.29 million. For the period ending September 2012, SK Kikaku Co., Ltd. reported total assets of ¥178.82 million, net assets of ¥101.35 million, sales of ¥530.15 million, operating profit of ¥1.14 million and net profit of ¥1.01 million. For the period ending March 2013, Smart Display Co., Ltd. reported total assets of ¥22.36 million, net assets of ¥5.15 million, sales of ¥99.32 million, operating profit of ¥4.72 million and net profit of ¥3.23 million. Conclusion of the basic agreement will happen on December 13, 2013 and the conclusion of share transfer agreement is expected to take place in mid-January 2014.
As on December 13, 2013, the share transfer contract conclusion has been postponed to take place in mid-January 2014 and transaction is expected to be completed on February 1, 2014. As on January 17, 2014, the share transfer contract conclusion has been postponed to take place in early February 2014 and transaction is expected to be completed in early March 2014.
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 Co., Ltd. signed a basic agreement to acquire Shikitsu Kadan Co., Ltd. Smart Display Co., Ltd. and SK Kikaku Co., Ltd. from Yukio Hirata and Chiyoka Fukui.