Yaoko Co., Ltd. completed the acquisition of ave Corporation from Kimura Shoten Co., Ltd. and ave Development Co., Ltd.
April 29, 2017
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Yaoko Co., Ltd. (TSE:8279) entered into basic agreement to acquire ave Corporation from Kimura Shoten Co., Ltd. and ave Development Co., Ltd. on October 10, 2016. A share transfer contract was signed on December 12, 2016. The sellers will sell 57.6% and 42.4% stake respectively. Post this transaction, ave Corporation will operate as a wholly owned subsidiary of Yaoko Co., Ltd. In a related deal, Yaoko Co., Ltd. agreed to acquire ave Development Co., Ltd. For the year ended March 31, 2016, ave Corporation reported net assets of ¥16.07 billion, total assets of ¥33.15 billion, sales of ¥48.38 billion, operating profit of ¥2.29 billion and net income of ¥1.72 billion. The board of directors of Yaoko Co., Ltd. resolved the deal. The deal is expected to close by April 3, 2017.
Yaoko Co., Ltd. (TSE:8279) completed the acquisition of ave Corporation from Kimura Shoten Co., Ltd. and ave Development Co., Ltd. in April 2017.
YAOKO CO.,LTD. is a Japan-based company mainly engaged in the retail of foods. The Companyâs Supermarket segment is engaged in the supermarket business centered on foods, the development, management and operation of shopping centers, store-related business, the import and wholesale of food and beverage, etc.