Shintokyo Delica Co., Ltd cancelled the acquisition of food manufacture and sale business from Watami Co., Ltd..
August 14, 2019
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Shintokyo Delica Co., Ltd concluded a basic agreement to acquire food manufacture and sale business from Watami Co., Ltd. (TSE:7522) for ¥940 million on August 15, 2018. Shintokyo Delica Co., Ltd will conclude an absorption-type split agreement with Watami Co., Ltd on August 24, 2018. For the fiscal year ended March 2018, Food Manufacture and Sales Business of Watami Co Ltd reported sales of ¥1.3 billion. The deal is subject to the approval from the Board of Directors of Watami Co., Ltd for concluding absorption-type split agreement at the meeting will be held on August 24, 2018. The transaction has been resolved by the Board of Directors of Watami Co., Ltd for concluding basic agreement at the meeting held on August 15, 2018. The transaction is expected to be completed by October 1, 2018.
Shintokyo Delica Co., Ltd cancelled the acquisition of food manufacture and sale business from Watami Co., Ltd. (TSE:7522) on August 15, 2019.
WATAMI CO.,LTD. is a Japan-based company mainly engaged in the restaurants business, the home delivery business, the agriculture business and the environmental business. The Company has five business segments. The Domestic Restaurant segment is engaged in the operation of restaurants, the manufacture and wholesale of ingredients, as well as the delivery of liquors and beverages to directly managed stores and franchise stores. The Home Delivery segment is engaged in the sale and delivery of food material sets and prepared dishes. The Overseas Restaurant segment is engaged in the franchise business, the strategic planning and execution of overseas expansion, as well as the operation of restaurants in overseas. The Environmental segment is engaged in the power retail business, the wind power generation business and the circulation services business. The Agriculture segment is engaged in the production and sale of agricultural products and processed agricultural products.
WATAMI CO., LTD. 