Daitobo Co., Ltd. completed the acquisition of Healthcare-related Bedding Materials Related Business from WATEX Co., Ltd.
March 28, 2019
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Daitobo Co., Ltd. (TSE:3202) signed a basic contract to acquire Healthcare-related Bedding Materials Related Business from WATEX Co., Ltd. on March 28, 2018. Daitobo Co., Ltd. signed a business acquisition agreement to acquire Healthcare-related Bedding Materials Related Business from WATEX Co., Ltd. on March 8, 2019. The underwriting of the full amount by debt such as loans is assumed. Agreement conclusion is planned to end of June 2018. As reported on February 7, 2019, Daitobo decided to accept a portion of the borrowings, etc. of WATEX Co., Ltd., without giving the acquisition price free. During the financial year ended March 2017, Healthcare-related Bedding Materials Related Business of WATEX Co., Ltd reported sales of ¥1.13 billion and total assets of ¥663 million. The transaction is expected to be completed between July 1 and the end of July. As of June 15, 2018, the contract is expected to be signed between the end of July 2018 and end of September 2018 and the transaction is expected to close within one month from contract signing date. As of September 26, 2018, the contract is expected to be signed at the end of March 2019. As reported on February 7, 2019, transaction is expected to complete the final transfer agreement by the end of March 2019. The transaction is expected to complete on March 29, 2019.
Daitobo Co., Ltd. (TSE:3202) completed the acquisition of Healthcare-related Bedding Materials Related Business from WATEX Co., Ltd. on March 29, 2019.
Daitobo Co., Ltd. is a japan-based company mainly engaged in the commercial facilities business and textile and apparel business. The Company operates through three business segments. Commercial Facilities segment is involved in the operation and management of commercial facilities, as well as rental of real estates. Healthcare segment is involved in the manufacture and sale of bedding. Textile and Apparel segment is involved in manufacture and sale of textile materials and apparel products that includes apparel and uniforms through the apparel, uniforms and materials division.