TETSUJIN Inc. cancelled the acquisition of Naokyu Co., Ltd. from Fukukuru Foods Co., Ltd.
March 24, 2021
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TETSUJIN Inc. (TSE:2404) agreed to acquire Naokyu Co., Ltd. from Fukukuru Foods Co., Ltd. on March 25, 2020. As per the terms, TETSUJIN Inc. will acquire 0.08 million shares in Naokyu. In a related transaction, Naokyu Co., Ltd. will acquire the ramen business of Fukukuru Foods Co., Ltd. As of March 31, 2019, Naokyu Co., Ltd. reported sales of ¥73 million, total assets of ¥35 million, operating loss of ¥3 million and net assets of ¥8 million. The transaction was resolved by the Board of Directors' meeting of TETSUJIN Inc. The transaction is expected to be completed on April 1, 2020.
TETSUJIN Inc. (TSE:2404) cancelled the acquisition of Naokyu Co., Ltd. from Fukukuru Foods Co., Ltd. on March 25, 2021.
TETSUJIN Holdings Inc, formerly Tetsujin Inc, is engaged in the karaoke room management business, as well as the food and beverage business, beauty business, and media and content planning business. The Company operates through four segments. The Karaoke Room Management segment operates karaoke stores under the KARATEZ brand in the Tokyo metropolitan area. The Food and Beverage segment focuses on the ramen business under the Naokyu brand, and sells to directly managed stores as well as franchisee stores and retail distribution companies. It also operates Kyoto Katsugyu and Akakara. The Beauty segment operates eyelash extension and nail salons under the Bianca brand in the Tokyo metropolitan area and the Rich to brand in the Chukyo area. The Media and Content Planning segment is engaged in the production, sale, and distribution of mobile content for mobile phones. The Company also carry out collaboration projects such as anime.