Sunday Co., Ltd. cancelled the acquisition of the remaining 0.01% stake in JOY Co., Ltd. from an individual shareholder.
October 04, 2012 at 12:00 am EDT
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Sunday Co., Ltd. (JASDAQ: 7450) signed a share exchange contract to acquire the remaining 0.01% stake in JOY Co., Ltd. from an individual shareholder for ¥0.04 million in stock on October 4, 2011. One share of JOY Co will be exchanged for 0.2 share of Sunday Co. and 100 common shares from Sunday Co.'s treasury shares will be issued. JOY Co., Ltd. will become a wholly-owned subsidiary on completion of the deal. JOY Co., Ltd had net assets of ¥809 million, total assets of ¥6.71 billion, sales of ¥11.29 billion, operation profit of ¥100 million, ordinary profit of ¥67 million and net profit of ¥70 million for the year ended February 2011.
The agreement will be executed without approval of shareholders of Sunday Co. The transaction was resolved by the Board of Directors of Sunday Co., Ltd. and JOY Co., Ltd. respectively on October 4, 2011. The transaction is expected to be completed by November 18, 2011.
Sunday Co., Ltd. (JASDAQ:7450) cancelled the acquisition of the remaining 0.01% stake in JOY Co., Ltd. from an individual shareholder on October 4, 2012.
SUNDAY CO., LTD. is a Japan-based company mainly engaged in the operation of home centers, which provide household- and living-related products for general consumers. The Company's main products include do-it-yourself (DIY) products, household products, as well as car and leisure products, among others. Its DIY products include wood, architectural hardware, tools, paints and exterior products. Household products include daily necessities, interior products, electrical appliances and household sundries. Car and leisure products include gardening materials, pet products, leisure products and car products. The Company is also engaged in the provision of construction services.
SUNDAY CO.,LTD. 
