Puequ CO.,LTD. signed an agreement to acquire kyoriz-denki co. ltd for ¥250 million.
October 24, 2019
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Puequ CO.,LTD. (JASDAQ:9264) signed an agreement to acquire kyoriz-denki co. ltd for ¥250 million on October 25, 2019. Post completion, kyoriz-denki will become a wholly owned subsidiary of Puequ. kyoriz-denki had net assets of ¥213.2 million, total assets of ¥315.9 million, net sales of ¥261.8 million, operating income of ¥71.5 million and net income of ¥47.7 million in the year ending December 31, 2018. Board of Directors of Puequ resolved the transaction on October 25, 2019. Transaction is expected to close on December 3, 2019.
Puequ CO.,LTD. is a Japan-based company principally engaged in the manufacture and sale of environment and energy related equipment, power and heavy machine related equipment, as well as disaster prevention and safety related equipment. The Company operates in three business segments. Environment and Energy segment is involved in the manufacture and sale of environment-related equipment aimed at water treatment and environmental improvement, as well as energy-related equipment, which are mainly composed of heat exchangers. Power and Heavy Equipment segment is involved in the manufacture and sale of marine machinery and parts, plant related equipment and other power related parts. Disaster Prevention and Safety segment is involved in the manufacture and sale of indoor and outdoor fire hydrants and pressurized water conveying devices for sprinkler fire extinguishing facilities.
PUEQU CO.,LTD. 
