C.I. Medical Co.,Ltd. reached an agreement to acquire 60% stake in Niigata Prefectural Electric Power Co., Ltd. from Takashi Kakuya, Chairman and Director of Niigata Prefectural Electric Power Co., Ltd.
November 11, 2020
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C.I. Medical Co.,Ltd. (JASDAQ:3540) reached an agreement to acquire 60% stake in Niigata Prefectural Electric Power Co., Ltd. from Takashi Kakuya, Chairman and Director of Niigata Prefectural Electric Power Co., Ltd., on November 12, 2020. Under the terms of the transaction, C.I. Medical Co.,Ltd. will acquire 60 shares in Niigata Prefectural Electric Power Co., Ltd. Upon completion, Niigata Prefectural Electric Power Co., Ltd. will operate as a subsidiary of C.I. Medical Co.,Ltd. For the year ended August 31, 2020, Niigata Prefectural Electric Power Co., Ltd. reported total assets of ¥115 million, negative total common equity of ¥5 million, total revenues of ¥316 million, operating income of ¥24 million and net income of ¥22 million. The transaction is resolved by the Board of C.I. Medical Co.,Ltd. The transaction is expected to close on November 12, 2020. The impact of the acquisition of shares on the Company's consolidated financial results for the fiscal year ending December 2020 will be minor.
C.I.MEDICAL CO.,LTD. is a Japan-based company engaged in mail order sales to dental clinics, dental laboratories and other various medical institutions. Mail order sales segment sells products purchased from domestic and overseas wholesalers and manufacturers to domestic dental clinic and other healthcare professionals. Mail order distributions include Ci Medical for dental clinic, nurse+care for clinic, DENTAL LABO for dental laboratory, Vet for veterinary medical materials and pharmaceutical, FreshCare for nursing care facilities and welfare facilities, Medical catalog for hospitals and general clinics, Demiline dental clinic catalog for dental clinics, dental fit for patients and the MEX business for pharmacies. It also provides computer aided design (VAD) and computer aided manufacturing (CAM) dental technology production business, dental magazine publishing business, solar power generation business, and website creation agency business for dental clinics and dental laboratories.
C.I. Medical Co.,Ltd. reached an agreement to acquire 60% stake in Niigata Prefectural Electric Power Co., Ltd. from Takashi Kakuya, Chairman and Director of Niigata Prefectural Electric Power Co., Ltd.
C.I. MEDICAL CO.,LTD. 
