Think Fitness Corporation entered into an agreement to acquire 67% stake in Joyful Athletic Club Co., Ltd. from Joyful Honda Co., Ltd..
February 01, 2021
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Think Fitness Corporation entered into an agreement to acquire 67% stake in Joyful Athletic Club Co., Ltd. from Joyful Honda Co., Ltd. (TSE:3191) on February 2, 2021. Under the terms of the transaction, Think Fitness Corporation will acquire 670 shares in Joyful Athletic Club Co., Ltd. Upon completion, Joyful Honda Co., Ltd. will own 33% stake in Joyful Athletic Club Co., Ltd. The transaction is resolved by the Board of Joyful Honda Co., Ltd. The transaction is expected to close on March 1, 2021. The transaction will have a minor impact on the business results for the current fiscal year.
Joyful Honda Co Ltd is engaged in the sales of housing products including materials and professional supplies, interior and living products, and garden and farm products, the design and construction of renovation work and the sales of related products, and the sales of living products including daily necessities, pets and leisure products. The Company operates home center business and housing renovation business. The stores include large-scale retail stores and specialty retail stores. The products include material and professional supplies such as lumber, construction materials, paints, tools, hardware, work supplies and electrical parts, daily necessities such as everyday consumables, sanitary products, medicines, health care products, beverages and alcoholic beverages, garden and farm products such as flower seedlings, vegetable seedlings, plants, culture soil, fertilizer, bricks and paving stones, interior and living products such as floors, walls, windows, furniture and others.