Yamaichi Real Estate Co.,Ltd. cancelled the acquisition of Unitika Estate Co.,Ltd. from Unitika Ltd..
February 22, 2017
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Yamaichi Real Estate Co.,Ltd. signed a transfer contract to acquire Unitika Estate Co.,Ltd. from Unitika Ltd. (TSE:3103) for ¥1.8 billion in cash on February 23, 2016. Yamaichi Real Estate will acquire 0.01 million shares of Unitika Estate. In a related transaction, Unitika Ltd. agreed to acquire remaining 10% stake in Unitika Estate Co.,Ltd. from Osaka Gas Urban Development Co., Ltd. on February 23, 2016. Unitika Estate reported net assets of ¥3.66 billion, total assets of ¥13.91 billion, sales of ¥5.64 billion, operating profit of ¥172 million and net loss of ¥811 million as of March 2015. The deal was resolved by the Board of Directors of Unitika Ltd. on February 23, 2016. The deal is expected to close by March 31, 2016.
Yamaichi Real Estate Co.,Ltd. cancelled the acquisition of Unitika Estate Co.,Ltd. from Unitika Ltd. (TSE:3103) on February 23, 2017.
Yamaichi Uniheim Real Estate Co Ltd is a Japan-based company primarily engaged in the development, sale, leasing, management and brokerage of real estate. The Company operates through three business segments. The Real Estate Development and Leasing segment develops and leases residential and commercial real estate properties and operates a parking lot business. The Real Estate Development and Sales segment develops residential land, sells land, and contracts for construction of detached houses. The Condominium segment mainly plans and sells condominiums. The Company is also engaged in the rental, sales, and management of condominiums for seniors, home-visit nursing care and in-home nursing care support services, operation of Japanese restaurants and hot spring facilities, non-life insurance agency business, and electricity sales business.