TOKAI : Announcement of Contract Signing for Acquisition of Shares of FujiPro Co., Ltd. (101KB)
March 22, 2024 at 07:04 am
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March 22, 2024
For Immediate Release
Company Name:
TOKAI Holdings Corporation
Representative Name:
Katsuo Oguri, Representative
Director, President and CEO
(Code No. 3167, TSE Prime Market)
Announcement of Contract Signing forAcquisition of Shares of FujiPro Co., Ltd.
We hereby announce that TOKAI Co., Ltd. (hereinafter referred to as "TOKAI"), our consolidated subsidiary responsible for energy businesses such as LP gas sales, has entered into a share transfer agreement to acquire shares of FujiPro Co., Ltd. (Headquarters: Chigasaki City, Kanagawa Prefecture, President and CEO: Yasunari Yamamoto, hereinafter referred to as "FujiPro"). The details are as follows:
1. Reasons for Share Acquisition
TOKAI primarily engages in retail businesses, including LP gas and home delivery water, with a customer base of approximately one million nationwide. It also operates construction, facility installation, and real estate sales businesses in Shizuoka, Aichi, Gifu, Mie, and Kanagawa Prefectures. In particular, the LP gas business has been actively expanding, with a strong business foundation in Shizuoka and the Kanto area, expanding as far as the Tohoku region in the north and the Kumamoto area in Kyushu in the south.
FujiPro operates the LPgas business based in Chigasaki City, Kanagawa Prefecture, supplying LPgas to customers throughout the Shonan and Ken-oh areas of Kanagawa Prefecture. With a business history of approximately 70 years, FujiPro is a prominent business entity in Kanagawa Prefecture, delivering peace of mind and comfort to each and every customer and boasting a high level of trust and achievements. By becoming a member of the TOKAI Group, FujiPro aims to achieve management stability through the expansion of management resources. Collaboration in various aspects such as procurement, sales, distribution, and safety in the LP gas business is expected to lead to business expansion.
TOKAI has set forth a policy to promote M&A and alliances in the energy business as a key initiative of its " TOKAI Group's Mid-term Management Plan 2025" formulated in May of last year. By further enhancing the sales structure in the Kanagawa area through this transaction, it is expected to improve the overall efficiency of sales, distribution, and safety operations, thereby ensuring a stable supply of LP gas in the region and further expanding the business.
2. Overview of the Acquired Company
(1) Company Name:
FujiPro Co., Ltd.
(2) Location:
Chigasaki City, Kanagawa Prefecture
(3) Position and Name of
President and Representative Director, Yasushi
Representative:
Yamamoto
(4) Business Activities:
LP gas sales, combustion equipment sales
(5) Capital:
20,000,000 yen (as of January 2024)
(6) Date of Establishment:
February 1966 (Founded in 1955)
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3. Number of Acquired Shares and Status of Owned Shares Before and After Acquisition
(1) Number of Owned Shares Before
0 shares
Transfer:
(Number of Voting Rights: 0)
(Ownership Percentage: 0%)
(2) Number of Acquired Shares:
31,800 shares
(Number of Voting Rights: 318)
(Percentage of Issued Shares: 100%)
(3) Number of Owned Shares After
31,800 shares
Transfer:
(Number of Voting Rights: 318)
(Ownership Percentage: 100%)
5. Schedule
(1) Date of Share Subscription:
April 1, 2024 (scheduled)
6. Contact for inquiries
TOKAI Co., Ltd.,
Corporate General Business Division, Management Department, Management Headquarters TEL: +81-(0)54-254-8191
The contact hours are Monday to Friday, from 9:30 AM to 5:00 PM.
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Tokai Holdings Corporation published this content on
22 March 2024 and is solely responsible for the information contained therein. Distributed by
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22 March 2024 07:03:04 UTC.
Tokai Holdings Corp is a Japan-based company mainly engaged in the energy business. The Company has five business segments. The Gas and Petroleum segment is engaged in the sale of liquefied petroleum gas, liquefied natural gas, high-pressure gas and oil products, the provision of city gas, the construction of related facilities and equipment, as well as the security business. The Building and Real Estate segment is engaged in the development, sale and rental of real estate, the sale of construction materials and equipment. The Cable Television (CATV) segment is engaged in the broadcasting business, the Internet connection business by CATV network. The Information and Communication Service segment is engaged in the software development, information processing, Internet connection, equipment sales and agency business. The Aqua segment is engaged in the manufacture and sale of drinking water. The Company is also engaged in the wedding, ship repairing, insurance and nursing care business.