Higashi Nihon House Co., Ltd. cancelled the acquisition of the remaining 0.4% stake in Hotel Higashi Nihon Co., Ltd. from Katsuaki Asano, Makoto Ishibashi and others.
September 02, 2015 at 12:00 am EDT
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Higashi Nihon House Co., Ltd. (TSE:1873) agreed to acquire remaining 0.4% stake in Hotel Higashi Nihon Co., Ltd. from Katsuaki Asano, Makoto Ishibashi and others for ¥2.5 million on September 2, 2014. Higashi Nihon House will issue its 0.16 share for every share of Hotel Higashi Nihon. Higashi Nihon House will acquire 0.03 million shares of Hotel Higashi Nihon and already held 7.1 million shares representing 99.6% stake. Higashi Nihon House will allocate 4,608 common shares for transfer in this share exchange. For the financial year ending December 31, 2013, Hotel Higashi Nihon had total assets of ¥3.48 billion, net assets of ¥1.13 billion, sales of ¥7.05 billion, EBIT of ¥285 million and net income of ¥167 million. The deal is expected to close on October 7, 2014. Larks Accounting Co., Ltd. acted as third party appraiser in the deal.
Higashi Nihon House Co., Ltd. (TSE:1873) cancelled the acquisition of the remaining 0.4% stake in Hotel Higashi Nihon Co., Ltd. from Katsuaki Asano, Makoto Ishibashi and others on September 2, 2015.
NIHON HOUSE HOLDINGS CO., LTD. is a Japan-based company primarily engaged in the housing business and the hotel business. The Company operates in three business segments. The Housing segment is engaged in the contract construction of detached and complex housings, the provision of remodeling construction services, as well as the sale of condominiums and residential land. The Hotel segment is engaged in the operation and management of hotel and leisure facilities, and restaurants. The Other segment is engaged in the solar power generation business and the power sales business.
Higashi Nihon House Co., Ltd. cancelled the acquisition of the remaining 0.4% stake in Hotel Higashi Nihon Co., Ltd. from Katsuaki Asano, Makoto Ishibashi and others.
NIHON HOUSE HOLDINGS CO., LTD. 
