ANAP Inc. signed a share exchange agreement to acquire remaining 50% in ATLAB Co., Ltd. from Graphnet, Inc., Stitch Co., Ltd., Yuki Yamamoto, Hiroshi Fuse and Shinnosuke Kawakami for ¥20 million.
August 19, 2019
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ANAP Inc. (JASDAQ:3189) signed a share exchange agreement to acquire remaining 50% in ATLAB Co., Ltd. from Graphnet, Inc., Stitch Co., Ltd., Yuki Yamamoto, Hiroshi Fuse and Shinnosuke Kawakami for ¥20 million on August 20, 2019. The consideration comprises issuance of 0.03 million shares of ANAP Inc., being issued at an exchange ratio of 1:84.175. The ratio might change due to any condition as per the agreement. The sellers are selling 20%, 20%, 5.5%, 2.5% and 2% stakes respectively. Post completion, ATLAB Co., Ltd. will operate as a wholly owned subsidiary of ANAP Inc. For the fiscal year ended August 31, 2018, ATLAB Co., Ltd. reported sales of ¥1 million, total assets of ¥24 million, operating loss of ¥17 million and net assets of ¥22 million. The deal is subject to approval from shareholders of ATLAB Co., Ltd. in meeting due on August 28, 2019. The Board of Directors of ANAP Inc. and ATLAB Co., Ltd. resolved to approve the deal on August 20, 2019. The deal is expected to close on September 11, 2019.
ANAP INC. is mainly engaged in the retail and wholesale of casual clothing. The Company operates through three business segments, including Internet Sales segment, In-store Sales segment and Wholesale segment. Its brands include ANAP, ANAP MIMPI, SETTIMISSIMO, CHILLE, ANAP USA, LATINA, ANAP GiRL, ANAP KIDS and others. Its products include dresses, tops, pants, skirts, set-ups, jackets, coats, knits and others. It also engages in license business.
ANAP Inc. signed a share exchange agreement to acquire remaining 50% in ATLAB Co., Ltd. from Graphnet, Inc., Stitch Co., Ltd., Yuki Yamamoto, Hiroshi Fuse and Shinnosuke Kawakami for ¥20 million.
ANAP INC. 
