Kozosushi Co., LTD. cancelled the acquisition of Delis Inc. from Tomoatsu Ido and others.
April 22, 2019
Share
Kozosushi Co., LTD. (JASDAQ:9973) agreed to acquire Delis Inc. from Tomoatsu Ido and others for approximately ¥270 million on April 23, 2018. Kozosushi will acquire 0.059 million shares of Delis and will issue its 59.2 shares for each share of Delis. A total of 3.49 million shares will be issued by Kozosushi. Tomoatsu Ido holds 82.7% stake in Delis. Post transaction, Delis Inc. will become wholly-owned subsidiary of Kozosushi Co., LTD. Delis inc reported total assets of ¥167 million, net liabilities of ¥377 million, sales of ¥483 million and operating income of ¥23 million for the year ended February 28, 2018. The transaction is subject to approval by shareholders of Delis Inc. at a meeting to be held on May 2, 2018. The transaction is approved by the board of Kozosushi Co., LTD on April 23, 2018. The agreement is expected to be signed on May 2, 2018 and is expected to close in June, 2018. Kawano Certified Public Accountants acted as valuer for Kozosushi Co., LTD.
Kozosushi Co., LTD. (JASDAQ:9973) cancelled the acquisition of Delis Inc. from Tomoatsu Ido and others on April 23, 2019.
Kozosushi Co.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of sushi and bento boxes, and supply and provision of raw materials to members as a franchise for Kosushi. The Company operates in three segments. The Takeout Sushi and others segment operates shops under the brand names Kozosushi and Chagetsu. It has directly-managed stores under name Curry House Spicy, Chunyodo and San Marco. Sushi Franchise (FC) business is providing brandâs using right and instruction for product manufacture and sale to get paid. The nursing and welfare business segment has facilities for the elderly with services Laport. The Delivery business segment includes combined home delivery business that provides home delivery sales of in-house prepared foods and home delivery services for nearby restaurants and home delivery FC business.