HIP Corporation completed the acquisition of Cosmex Co., Ltd. from Ant Care Business No. 2, a fund of Ant Capital Partners Co., Ltd., and Ichiro Hayashi.
February 03, 2013 at 11:00 pm EST
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HIP Corporation (JASDAQ:2136) agreed to acquire Cosmex Co., Ltd. from Ant Care Business No. 2, a fund of Ant Capital Partners Co., Ltd., and Ichiro Hayashi for approximately ¥210 million on January 23, 2013. HIP will acquire 390 shares of Cosmex. Ichiro Hayashi will sell 23.08% stake. HIP will allocate own capital for the share acquisition. Cosmex will become HIP's consolidated subsidiary. Cosmex had net assets of ¥39.02 million, total assets of ¥210.78 million, sales of ¥124.26 million, operating loss of ¥70.32 million, ordinary loss of ¥71.04 million and net loss of ¥55.31 million for the year ending April 2012. The transaction was resolved by the Board of Directors of HIP on January 23, 2013. Conclusion of share transfer contract is scheduled on January 24, 2013 and the planned share transfer date is February 4, 2013.
HIP Corporation (JASDAQ:2136) completed the acquisition of Cosmex Co., Ltd. from Ant Care Business No. 2, a fund of Ant Capital Partners Co., Ltd., and Ichiro Hayashi on February 4, 2013. Makoto Ohta and Hideaki Zaitsu will join as part time Director and Nobuaki Tanaka will join as Director of Cosmex.
HIP Corp is mainly engaged in outsourcing business. The Outsourcing business segment provides technical services such as mechanical design, electronic design, and software development in technology, design, development, and production technology departments as a development partner to each client company, mainly major manufacturers. The services to be provided are handled by engineers who are employees, and are provided by dispatching engineers to each client company to undertake design and development work, or by contracting design and development work from customers.
HIP Corporation completed the acquisition of Cosmex Co., Ltd. from Ant Care Business No. 2, a fund of Ant Capital Partners Co., Ltd., and Ichiro Hayashi.