MK Seiko Co., Ltd. cancelled the acquisition of mixer production and sales business from Takeuchi Mfg. Co., Ltd..
April 16, 2019
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MK Seiko Co., Ltd. (JASDAQ:5906) agreed to acquire mixer production and sales business from Takeuchi Mfg. Co., Ltd. (TSE:6432) for approximately ¥360 million on April 17, 2018. The agreement is expected to be signed on April 18, 2018. Under the terms of the transaction, Takeuchi Mfg. Co., Ltd. will establish a new company for the mixer production and sales business (MK Mixed Co., Ltd.) and then transfer its all shares to MK Seiko Co., Ltd. For the fiscal year ended February 28, 2018, the mixer production and sales business had sales of ¥565 million and total assets of ¥188 million. The transaction was resolved by the Board of Directors of Takeuchi Mfg. Co., Ltd. on April 17, 2018 and the share transfer is expected to be completed on June 1, 2018. Advisory fees in the transaction is ¥30 million.
MK Seiko Co., Ltd. (JASDAQ:5906) cancelled the acquisition of mixer production and sales business from Takeuchi Mfg. Co., Ltd. (TSE:6432) on April 17, 2019.
MK SEIKO CO., LTD. is a company that is primarily engaged in the manufacture and sale of automotive equipment, information equipment, household equipment and building equipment. The Company operates in five business segments. The Automotive Equipment segment manufactures and sells gate-type and high-pressure car washing systems, lorries for kerosene transportation and oil change equipment. The Information Equipment segment provides light emitting diode (LED) display equipment, construction display equipment and full-color display systems. The Household Equipment segment manufactures and sells low-temperature farm products warehouses, rice warehouses, bread makers, rice cake makers and others. The Building Equipment segment is engaged in the provision of wood and aluminum composite insulation fittings and reflection plate mufflers. The Others segment is involved in the insurance agency, real estate management and leasing, hotel and other businesses.