Ishigaki Foods Co.,Ltd. completed the acquisition of 51% stake in New Japan Functional Foods Co., Ltd from Kenji Kobayashi.
March 29, 2018
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Ishigaki Foods Co.,Ltd. (JASDAQ:2901) signed a contract to acquire 51% stake in New Japan Functional Foods Co., Ltd from Kenji Kobayashi for approximately ¥310 million on October 31, 2017. Under the terms, Ishigaki Foods will acquire 510 common shares. Before acquisition, Kenji Kobayashi holds 100% stake in New Japan Functional Foods. For the fiscal year ended July 31, 2017, New Japan Functional Foods Co., Ltd reported net assets of ¥65 million, total assets of ¥1.1 billion, sales of ¥2.2 billion, operating income of ¥3.5 million and net loss of ¥35.8 million. The transaction is resolved by the Board of Directors of Ishigaki Foods Co.,Ltd on October 31, 2017. The transaction is expected to close on March 31, 2018. Ishigaki Foods will pay ¥2 million as advisory expense.
Ishigaki Foods Co.,Ltd. (JASDAQ:2901) completed the acquisition of 51% stake in New Japan Functional Foods Co., Ltd from Kenji Kobayashi on March 30, 2018.
Wel-Dish Inc is a Japan-based company that develops, manufactures, imports and sells beverages, dried ingredients for commercial use and other food products. The Company operates its business through four segments. The Food business segment produces barley tea and other beverages, burdock tea and other health drinks and beef jerky. The Internet Mail-order business segment operates a membership-based mail-order wholesale site for health foods, cosmetics and other beauty products. The Cosmetics business segment sells cosmetics. The Miscellaneous Goods business segment sells miscellaneous goods. Other businesses include supplements, fruits and vegetables, welfare services, and in-home and preventive care services based on the long-term care insurance law.