Hisashi Fujioka agreed to acquire an additional 54.81% of Osho Restaurant Management Co. Ltd and 54.88% of Eat& Foods Co., Ltd from EAT&Co., Ltd..
March 02, 2014
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Hisashi Fujioka agreed to acquire an additional 54.81% of Osho Restaurant Management (Shanghai) Co. Ltd and 54.88% of Eat& Foods (Shanghai) Co., Ltd from EAT&Co., Ltd. (TSE:2882) on March 3, 2014. There will be no cash consideration in the transaction.
Following the completion of the deal, Hisashi Fujioka will increase its stake to 64.85% in Osho Restaurant Management (Shanghai) Co. Ltd and 64.92% in Eat& Foods (Shanghai) Co., Ltd. EAT&Co., Ltd expects an extraordinary loss of ¥144 million caused by debt waiver and sale of stake in the two subsidiaries, for fiscal year 2014.
Eat&Holdings Co Ltd, formerly Eat& Co Ltd, is a Japan-based company engaged in the production and sale of frozen food products, as well as the operation of restaurant chains. The Company operates in two business segments. The Food segment is engaged in the sale of frozen food products under the brand name OSAKA OHSHO to consumer cooperatives and general mass retailers through wholesalers, as well as to general consumers through electronic commerce (EC) business sites. The Restaurant segment is engaged in the operation of restaurants, including OSAKA OHSHO, which offer Chinese food products; Yottekoya and Taiyo no Tomatomen, which offer noodle products; R Baker Inspired by court rosarian and Coccinelle, which offer cafe and bakery products, as well as the operation of franchise chains. The main products include frozen dumplings, ingredients and skins.
EAT&HOLDINGS CO.,LTD 
