Hibino Corporation completed the acquisition of unknown majority stakes in Sama Sound Inc., Sama D&I Co., Ltd. and Sama CDS Inc. from Junwhan Inn and Sama ProSound Co., Ltd.
January 30, 2019
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Hibino Corporation (JASDAQ:2469) signed a basic agreement to acquire Sama Sound Inc., Sama D&I Co., Ltd. and Sama CDS Inc. from Junwhan Inn and Sama ProSound Co., Ltd on October 24, 2018. Upon completion, Sama Sound Inc., Sama D&I Co., Ltd., and Sama CDS Inc. will operate as subsidiaries of Hibino Corporation. For the year ended March 2018, Sama Sound Inc. reported sales of KRW 9.07 billion and Sama D&I Co., Ltd. reported sales of KRW 5.18 billion. The transaction was resolved by the Board of Hibino Corporation on October 24, 2018. The agreement is expected to be signed in late November 2018. The transaction is expected to be closed in late December 2018.
Hibino Corporation (JASDAQ:2469) completed the acquisition of unknown majority stakes in Sama Sound Inc., Sama D&I Co., Ltd. and Sama CDS Inc. from Junwhan Inn and Sama ProSound Co., Ltd on January 31, 2019. Hibino Corporation hold 60% in Sama Sound Inc., Sama D&I Co., Ltd., and Sama CDS Inc. Sama COOP hold 30% stake in Sama Sound Inc., Sama D&I Co., Ltd., and Sama CDS Inc. Junwhan Inn hold 10% stake in Sama Sound Inc., Sama D&I Co., Ltd., and Sama CDS Inc.
Hibino Corporation is engages in the audio and visual (AV) business. The Company operates in four business segments. The Audio Equipment Sales and Construction segment engages in the sale of audio and visual equipment for business uses, the system design, construction and maintenance of audio equipment, as well as design and construction of architectural acoustics works. The Video Product Development, Manufacture and Sales segment involves in the manufacture and sale of light emitting diode (LED) displays and peripherals products. The Concert and Event segment engages in the planning, rental and operation of AV systems used in concerts and events, as well as the recording, relay, track down and authoring services for concerts and events. The Others segment involves in sale of lighting equipment, as well as provision of system design, construction and maintenance business.
Hibino Corporation completed the acquisition of unknown majority stakes in Sama Sound Inc., Sama D&I Co., Ltd. and Sama CDS Inc. from Junwhan Inn and Sama ProSound Co., Ltd.