JK Holdings Co., Ltd. entered into an agreement to acquire Sakata Kenzai, K.K. from Kyowa Co., Ltd.
February 11, 2021
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JK Holdings Co., Ltd. (TSE:9896) entered into an agreement to acquire Sakata Kenzai, K.K. from Kyowa Co., Ltd. on February 12, 2021. In a related transaction, Kyowa Co., Ltd. agreed to acquire sheet metal molding and processing business from Sakata Kenzai, K.K. on February 12, 2021. Under the terms, JK Holdings Co., Ltd. will acquire 30,000 shares in Sakata Kenzai, K.K. After the acquisition, Sakata Kenzai, K.K. will become consolidated subsidiary of JK Holdings Co., Ltd. The financials of Sakata Kenzai, K.K. for the financial year ending June 30, 2020, are total assets of ¥1.53 billion, net assets of ¥608 million, sales of ¥2.59 billion, operating income ¥16 million and net income ¥12 million. The transaction is expected to be completed on March 20, 2021. Impact on future consolidated earnings will be minor.
JK Holdings Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of plywood, the processing and sale of wood, and the wholesale and retail of plywood, plywood secondary products, building materials and housing equipment. The Company has three business segments. The General Building Material Wholesale segment is mainly engaged in the wholesale of plywood, plywood secondary products, building materials and housing equipment. The Plywood Manufacturing and Wood Processing segment is mainly engaged in the manufacture and sale of structural plywood, long plywood, laminated wood and assembled processed products, and the processing and sale of wood. The General Building Material Retail segment is mainly engaged in the retail of plywood, plywood secondary products, building materials and housing equipment. The Company is also engaged in the franchise, real estate leasing, warehouse, transportation, construction and travel business, and the insurance agency business.
JK HOLDINGS CO., LTD. 