Asia Gate Holdings Co., Ltd. cancelled the acquisition of more than 90% stake in Higashinihon Fudosan, K.K. from Higashinihon Asset Ltd. and Hiroshi Akimoto.
December 20, 2018
Share
Asia Gate Holdings Co., Ltd. (JASDAQ:1783) signed a basic agreement to acquire more than 90% stake in Higashinihon Fudosan, K.K. from Higashinihon Asset Ltd. and Hiroshi Akimoto on October 25, 2018. The number of shares to be acquired has not been finalized, however, Asia Gate Holdings Co., Ltd. has agreed to acquire more than 90% of issued capital of Higashinihon Fudosan, K.K. Higashinihon Asset Ltd. held 56.66% stake and Hiroshi Akimoto hold 27.54% stake in Higashinihon Fudosan, K.K. Post completion, Higashinihon Fudosan, K.K. will operate as a subsidiary of Asia Gate Holdings Co., Ltd.
For the fiscal year ended February 2018, Higashinihon Fudosan, K.K. reported sales of ¥1.8 billion, operating income of ¥493.9 million and net profit of ¥169.9 million. As of fiscal year ended February 2018, Higashinihon Fudosan, K.K. reported total assets of ¥11.1 billion and net assets of ¥1.7 billion. The Board of Directors of Asia Gate Holdings Co., Ltd. passed a resolution for the deal on October 25, 2018. The planned share transfer agreement signing date is November 2018 and the planned share transfer date is December 2018.
Asia Gate Holdings Co., Ltd. (JASDAQ:1783) cancelled the acquisition of more than 90% stake in Higashinihon Fudosan, K.K. from Higashinihon Asset Ltd. and Hiroshi Akimoto on December 21, 2018.
Fantasista Co Ltd, formerly Asia Gate Holdings Co Ltd, is a Japan-based company mainly engaged in real estate-related businesses such as real estate buying and selling and real estate consulting. The Company operates in three business segments. The Real Estate segment is engaged in real estate buying and selling, rights adjustment related to real estate buying and selling, utilization of self-owned real estate, and investment in properties with potential for income. The Real Estate Consulting segment is engaged in the provision professional support and useful information for real estate investors. The Healthcare segment distributes and sells products containing 5-aminolevulinic acid (5-ALA).
Asia Gate Holdings Co., Ltd. cancelled the acquisition of more than 90% stake in Higashinihon Fudosan, K.K. from Higashinihon Asset Ltd. and Hiroshi Akimoto.