Sugita Ace Co. Ltd. completed the acquisition of Tokuda Co., Ltd. from Kazuo Tokuda and other shareholders.
August 31, 2012 at 05:00 am
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Sugita Ace Co. Ltd. (JASDAQ:7635) entered into a share transfer and reception agreement to acquire Tokuda Co., Ltd. from Kazuo Tokuda and other shareholders on July 26, 2012. As per the terms of the deal, Sugita Ace Co will acquire 0.04 million shares of Tokuda Co. representing 100% stake. Kazuo Tokuda will sell 95.5% stake in Tokuda Co., Ltd. Tokuda Co., Ltd. reported sales of ¥523.57 million, current income of ¥14.36 million and net income of ¥9.92 million for the period ended August 2011. The transaction is expected to close on August 31, 2012. Mizuho Corporate Bank acted as financial advisor to Tokuda Co., Ltd.
Sugita Ace Co. Ltd. (JASDAQ:7635) completed the acquisition of Tokuda Co., Ltd. from Kazuo Tokuda and other shareholders on August 31, 2012. Post transaction, Tokuda Co., Ltd.'s trade name has been changed to Tokuda Ace Co., Ltd.
SUGITA ACE CO., LTD. is engaged in the sale of construction hardware and construction-related materials. The Company operates in three business segments. The Root segment is engaged in the sales of residential materials and building materials to secondary wholesale stores, hardware stores and construction material stores. The Engineering segment offers residential materials and building materials to construction material stores and sales construction stores, takes into account the added value of design, processing, construction based on the unique know-how. The Direct Needs segment is engaged in the sales of do it yourself (DIY) products, original equipment manufacturer (OEM) related materials and other products for general retailers such as home centers, mail order companies and department stores.
SUGITA ACE CO.,LTD. 
