Tsuzuki Denki Co., Ltd. signed a share transfer agreement to acquire additional 46.8% stake in ComDesign Inc. from Kenji Terao.
August 27, 2020
Share
Tsuzuki Denki Co., Ltd. (TSE:8157) signed a share transfer agreement to acquire additional 46.8% stake in ComDesign Inc. from Kenji Terao on August 28, 2020. Tsuzuki Denki will use the treasury stock held by itself (total disposal amount: ¥99.1 million) as part of the consideration paid. Pre deal, Tsuzuki Denki held 4.7% stake and post completion, it will hold 51.5% stake in ComDesign. Post completion, ComDesign will operate as a subsidiary of Tsuzuki Denki. For the year ending May 2020, ComDesign reported net assets of ¥236 million, total assets of ¥253 million, sales of ¥1.2 billion, operating income of ¥103 million and net income of ¥64 million. The Board resolution date of Tsuzuki Denki is August 28, 2020. The planned stock transfer execution date is September 30, 2020. The deal will impact on future business performance is immaterial for Tsuzuki Denki.
TSUZUKI DENKI CO., LTD. is a Japan-based company engaged in the provision of information network solution services and electronic devices. It operates through two business segments. Information Network Solution Service segment has three kinds of services. Network integration business provides global communications, Internet Protocol (IP) telephony solutions, call center solutions and other network solutions. System integration services provide various business solutions in the fields of manufacture, real estate, medical care and others. Service business provides network monitoring services, network diagnostics, network operations services, life cycle management (LCM) services, cloud services, support desks, security services and information technology (IT) infrastructure control services. Electronic Devices segment is engaged in the provision, design and development of semiconductors, electronic components, embedded server equipment and office supplies, as well as devices solution.
TSUZUKI DENKI CO., LTD. 