Belluna : Notice Regarding Acquisition of Shares in Maxim Co., Ltd. (as a New Subsidiary)
October 28, 2020 at 02:30 am EDT
Share
October 21, 2020
Dear Sirs:
Name of Company: BELLUNA CO., LTD.
Code No.: 9997 1st Section of the Tokyo Stock Exchange
Notice Regarding Acquisition of Shares in Maxim Co., Ltd. (as a New
Subsidiary)
Belluna Co., Ltd. (the "Company") hereby announces that a meeting of its Board of Directors held today and resolved to conclude a share transfer agreement with Maxim Co., Ltd. ("Maxim"), a company operating an online clothing apparel business, in order to acquire all of Maxim's shares and make Maxim our wholly owned subsidiary. Details are as follows.
Description
1. Reasons for acquisition of shares
Maxim Co., Ltd. is an apparel company that possess its house brand KOBE LETTUCE and a number of other brands. It operates an own shopping website and takes part in various other ecommerce malls for ordinary consumers. It has won many awards in major online malls and enjoys high recognition among young women, as can be seen in its strong word-of-mouth reputation. Moreover, in recent years, Maxim has been focusing on attracting customers to its own shopping website mainly based on influencer marketing strategies, and its presence in the online market is becoming greater.
In the Company's General Mail Order business, we are working to further strengthen our online sales, through the use of social media and influencer marketing strategies, aiming to penetrate the market for younger generations. We decided to enter into the share transfer agreement and welcome Maxim to the Belluna Group as we expect to further promote our growth through mutual use of product development knowhow, marketing knowhow and customer bases.
2. Profile of the subsidiary subject to the change
(as of October 21, 2020)
（1）Name
Maxim Co., Ltd.
（2）Address
3-2-11 Isobedori, Chuo-ku, Kobe City, Hyogo
（3）Representative
President and CEO, Junji Hayashi
name and title
（4）Main business
E-commerce and store management
（5）Capital stock
4 million yen
（6）Date of establishment
November 29, 2004
（7）Major shareholders
C Channel Co., Ltd. : 100%
and ownership
（8）Relationship with the Company
Capital
Not applicable
relationship
- 1 -
Personnel
Not applicable
relationship
Business
Not applicable
relationship
（9）Business results and financial position of the previous fiscal year (yen)
Fiscal year
FY March 2018
FY March 2019
FY March 2020
Net Assets
134,414,000
269,570,000
361,195,000
Total Assets
1,245,607,000
1,424,567,000
1,545,470,000
Net assets per share
1,680,176.74
3,369,634.01
4,514,940.27
Net sales
3,847,554,000
4,912,677,000
5,670,410,000
Operating income
120,740,000
198,446,000
120,702,000
Ordinary income
108,296,000
201,682,000
134,349,000
Net income
13,396,000
135,156,000
91,624,000
Net income per share
167,455.46
1,689,457.28
1,145,306.26
Cash dividends per share
-
-
-
3. Profile of the other party to the share acquisition
(as of March 31, 2020)
（1）Name
C Channel Co., Ltd.
（2）Address
1-4-1 Mita, Minato-ku, Tokyo
（3）Representative
President and CEO, Ryo Morikawa
name and title
（4）Main business
Media business, E-commerce and overseas business
（5）Capital stock
5,397 million yen
（6）Date of establishment
July, 2014
（7）Major shareholders
SoftBank Corp. 28.98％
Ryo Morikawa 21.41％
and ownership
Capital relationship
Not applicable
（8）Relationship with the Company
Personnel
Not applicable
relationship
Business
Not applicable
relationship
4. Number of shares to be acquired, acquisition price, and status of shares held before and after the acquisition
(1)
Number
of
shares
held
0 shares
(Number of voting rights: 0)
before the change
(Shareholding ratio: 0%)
(2)
Number
of
shares to be
75 shares
acquired
(3) Total acquisition price
1,650,000,000 yen
(4)
Number of shares held after
75 shares
(Number of voting rights: 75)
the acquisition
(Shareholding ratio: 100%)
5. Schedule
Date of resolution of the Board
：October 21, 2020
- 2 -
Date of concluding contract
：October 22, 2020 (expected)
Date of share acquisition
: November 24, 2020 (expected)
6. Business forecasts
The acquisition of shares described in this notice will have no significant effect on the Company's
consolidated operating results for the current fiscal year.
For inquiries about this notice, please contact the department below.
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Disclaimer
BELLUNA Co. Ltd. published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 06:29:05 UTC
BELLUNA CO.,LTD. is a Japan-based company mainly engaged in the mail order business. The Company operates through seven business segments. General Mail Order segment is involved in the sale of lifestyle related products such as clothing, household goods and furniture, as well as the provision of the related business. Specialty Mail Order segment is involved in the sale of single items, as well as the sale of products specialized for specific customers. Store Sales segment is involved in the sale of clothing and kimono-related products. Solution segment is involved in the consignment business. Finance segment in involved in the provision of consumer finance business for mail order business customers. Property segment mainly includes real estate leasing business, real estate revitalization and development business and hotel business. Other segment is involved in the renting and wholesale of clothing, as well as the operation of golf courses.
BELLUNA CO., LTD. 
