Japan Property Management Center Co., Ltd. cancelled the acquisition of Osaka Horo Co., Ltd from Koji Sato, Rihachi Sato and three unknown sellers.
December 17, 2016
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Japan Property Management Center Co., Ltd. (TSE:3276) agreed to acquire Osaka Horo Co., Ltd from Koji Sato, Rihachi Sato and three unknown sellers for approximately ¥270 million on December 18, 2015. A contract is expected to be concluded on December 18, 2015. Japan Property Management Center will acquire 0.2 million shares of Osaka Horo Co., Ltd. Koji Sato will sell 54.2% stake and Rihachi Sato will sell 30.3% stake. After the transaction, Osaka Horo Co., Ltd will operate as a subsidiary of Japan Property Management Center Co., Ltd. Osaka Horo Co., Ltd reported total assets of ¥1.28 billion, net assets of ¥233.42 million, sales of ¥150.06 million, operating profit of ¥56.67 million and net income of ¥23.82 million for the year ending March 31, 2015. The Board of Directors of Japan Management Center Co., Ltd passed a resolution for the transaction on December 18, 2015. The transaction is expected to be completed on December 18, 2015. The advisory expenses are estimated to be ¥50 million.
Japan Property Management Center Co., Ltd. (TSE:3276) cancelled the acquisition of Osaka Horo Co., Ltd from Koji Sato, Rihachi Sato and three unknown sellers on December 18, 2016.
Japan Property Management Center Co Ltd is a Japan-based company mainly engaged in the development of property management business nationwide, centered on lump-sum lease business. The Company rents real estate properties (rental housing such as rental condominiums and rental apartments) from real estate owners and subleases them to general residents. The Company is engaged in the rental management on behalf of landlords. Construction work, remodeling work, real estate property management and brokerage, and management of elderly housing are operated by partner companies (real estate management companies, construction companies, remodeling companies, and long-term care companies) nationwide. The Company is also engaged in the delinquency guarantee business, insurance business, broadband business (JPMC Hikari), sales business of building materials, and contract for renewal, remodeling and renovation work in the metropolitan area.