Hatsuho Shouji Co.,Ltd. agreed to acquire an additional 49.6% stake in Ishin Co., Ltd. from two individuals for ¥1.5 billion.
September 19, 2019
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Hatsuho Shouji Co.,Ltd. (JASDAQ:7425) agreed to acquire an additional 49.6% stake in Ishin Co., Ltd. from two individuals for ¥1.5 billion on September 20, 2019. Hatsuho Shouji Co.,Ltd. will acquire 0.07 million shares. Post completion, Hatsuho Shouji Co.,Ltd. will hold 0.11 million shares representing 74.8% stake of Ishin Co., Ltd. and it will become subsidiary of Hatsuho Shouji Co.,Ltd. For the period ended September 30, 2018, Ishin Co., Ltd has reported total assets of ¥6.1 billion, operating income of ¥453 million, net sales of ¥11.6 billion and net income of ¥318 million. The Board of Directors has passed the resolution for transaction. Completion is scheduled to take place on October 1, 2019. Hatsuho Shouji Co.,Ltd will pay advisor fee of ¥35 million.
HATSUHO SHOUJI CO., LTD. is a Japan-based company mainly engaged in the sale of secondary steel products, the renovation business and the transportation business. The secondary steel product sales business is engaged in the sale of lightweight steel base sheets, architectural hardware, exterior products, iron wires, welded wire meshes, secondary metal parts for autoclaved lightweight concrete (ALC), color iron sheets and lightweight ceramics hardware construction materials. The construction business is engaged in construction works including new construction, extension and reconstruction, as well as renovation works. The transportation business is engaged in the delivery of the Company's products.
HATSUHO SHOUJI CO.,LTD. 
