Denkyosha Co.,Ltd. signed a basic agreement to acquire Sun Note Co., Ltd. from General Holdings Co., Ltd.
October 21, 2018
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Denkyosha Co.,Ltd. (TSE:8144) signed a basic agreement to acquire Sun Note Co., Ltd. from General Holdings Co., Ltd. on October 22, 2018. A total of 56 million shares will be acquired as part of the deal. Share transfer agreement is expected to be signed on December 10, 2018. Upon completion of the acquisition, Sun Note Co., Ltd. will operate as a wholly owned subsidiary of Denkyosha Co.,Ltd. Sun Note Co., Ltd. reported net assets of ¥1.95 billion, total assets of ¥3.23 billion, sales of ¥5.05 billion, operating profit of ¥210 million and net profit of ¥185 million as of October 2017. Board of Denkyosha Co.,Ltd. resolved in favor of the deal on the same date. Deal is expected to close by April 1, 2019.
Denkyo Group Holdings Co Ltd is a Japan-based company mainly engaged in the wholesale of electrical goods and household goods. The Company operates through two business segments. The Electric Goods Wholesale Business segment is engaged in the sale of electrical products purchased from makers to retailers including the electronics retail stores, home centers and general merchandise stores. The segment is also engaged in the planning and manufacture of home appliances overseas, as well as the sale of products to domestic wholesalers and retailers. The Household Goods Wholesale Business segment is involved in the sale of household products to retailers including the electronics retail stores, home centers and general merchandise stores. The Company is also engaged in the electronic components sales business, home appliances repair and logistics delivery business, electrical-related systemization business and real estate management business.
DENKYO GROUP HOLDINGS CO.,LTD. 
