Central Sports Co. Ltd. (TSE: 4801) completed the acquisition of Meiji Sports Plaza, Ltd. from Meiji Co., Ltd.
July 31, 2013 at 12:00 am EDT
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Central Sports Co. Ltd. (TSE: 4801) agreed to acquire Meiji Sports Plaza, Ltd. from Meiji Co., Ltd. for ¥1.2 billion in cash on July 16, 2013. Under the terms of the deal, 1801 shares of Meiji Sports Plaza will be acquired. Meiji Sports Plaza, Ltd had total assets of ¥1.4 billion, net liabilities of ¥1.7 billion and net income of ¥83 million as on March 31, 2013. The deal is expected to complete on July 31, 2013.
Central Sports Co. Ltd. (TSE: 4801) completed the acquisition of Meiji Sports Plaza, Ltd. from Meiji Co., Ltd. on July 31, 2013.
CENTRAL SPORTS CO., LTD. is a Japan-based company mainly engaged in the sports club and related business. The Company operates membership-based gyms under the names Central Swim Club, Central Sports Club, Central Fitness Club and Central Wellness Club. The Company is also engaged in the operation of golf clubs through its subsidiaries in Colorado, the United States. The Company generates its revenue mainly from membership fees of gyms with machines, studios, pools and spa facilities, as well as sports schools for children and adults, such as swimming schools and gymnastics schools. The Company also sells various types of sports products through its specialty retail stores and vending machines in its clubs. Other activities include the travel business, such as the sale of travel products, and the facility leasing business.