M.Y.Y. Co., Ltd. cancelled the acquisition of Shanghai Wang Qu Trading Company from Watts Co., Ltd..
March 22, 2021
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M.Y.Y. Co., Ltd. agreed to acquire Shanghai Wang Qu Trading Company from Watts Co., Ltd. (TSE:2735) on March 23, 2020. For the year ending 2019, Shanghai Wang Qu Trading Company reported net liabilities of CNY 4 million, total assets of CNY 8 million, sales of CNY 19 million, operating loss of CNY 1 million and net loss of CNY 1 million. The deal will be implemented after obtaining approval from the Chinese authorities. The resolution date for Board of Watts Co is March 23, 2020. The impact of the transfer on the consolidated business results for Watts Co for the fiscal year ending August 2020 is expected to be minor.
M.Y.Y. Co., Ltd. cancelled the acquisition of Shanghai Wang Qu Trading Company from Watts Co., Ltd. (TSE:2735) on March 23, 2021.
WATTS CO., LTD. is a Japan-based company mainly engaged in the operation of 100-yen shops and related services. The Company operates 100-yen shops with selling daily consumables such as stationery, cleaning, kitchen, and sanitary goods under the name of Watts, Watts with, meets. and silk. It also provides wholesale to other retail sales companies. Many of the stores are tenant-type stores in shopping centers, supermarkets, and department stores. The Company operates general merchandise stores Buona Vita, fresh supermarkets Value 100, lifestyle general stores Sostrene Grene in Denmark, and discount shops Real. The Company operates KOMONOYA in Thailand, Malaysia, Vietnam and Peru, and KOMONOKAEN in China.
WATTS CO., LTD. 
