Medius Holdings Co., Ltd. cancelled the acquisition of 21.67% stake in Xiot, K.K. from eleven individual shareholders.
March 19, 2015 at 04:00 am
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Medius Holdings Co., Ltd. (JASDAQ:3154) signed a share exchange agreement to acquire 21.67% stake in Xiot, K.K. from eleven individual shareholders for ¥75.1 million in stock on March 19, 2014. Medius Holdings will acquire 2000 shares of Xiot at an exchange ratio of 13.7 and Medius Holdings will issue 27,400 shares as consideration. Xiot, K.K. reported net assets of ¥298 million, total assets of ¥1.16 billion, sales of ¥2.67 billion, operating profit of ¥53 million and net loss of ¥50 million for year ended July 31, 2013. The transaction is subject to approval by shareholders of Xiot, K.K. at a meeting to be held on May 10, 2014. The transaction was resolved by Board of Directors of Medius Holdings and Xiot, K.K. on March 19, 2014. The transaction is expected to be completed on July 2, 2014. Square Consulting Co., Ltd. acted as independent valuer for Medius Holdings Co., Ltd.
Medius Holdings Co., Ltd. (JASDAQ:3154) cancelled the acquisition of 21.67% stake in Xiot, K.K. from eleven individual shareholders on March 19, 2015.
MEDIUS HOLDINGS Co., Ltd. is a Japan-based company mainly engaged in the sale and maintenance of medical equipment, as well as the sale and rental of nursing care equipment. The Company operates through two business segments. The Medical Equipment Sales segment sells medical equipment to domestic healthcare facilities, such as hospitals. The Care and Welfare business segment is engaged in sales and rental of nursing care equipment purchased from Japanese nursing and welfare equipment manufacturers, agents, trading companies, to medical institutions such as domestic hospitals and general individuals. In addition, the Company is also engaged in sales of nursing care and welfare equipment purchased from domestic and foreign manufacturers to medical institutions such as hospitals and medical material dealers.