Earth Chemical Co., Ltd. cancelled the acquisition of 34.15% stake in Protoleaf Inc. from Hyponex Japan Corp., Ltd.
March 23, 2018
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Earth Chemical Co., Ltd. (TSE:4985) entered into a contract to acquire 34.15% stake in Protoleaf Inc. from Hyponex Japan Corp., Ltd. for approximately ¥270 million on March 24, 2017. As a part of the transaction, Earth Chemical Co., Ltd. will acquire 153 shares. During the year ended June 2016, Protoleaf Inc. had net assets of ¥65 million, total assets of ¥1.8 billion, sales of ¥2.89 billion, operating loss of ¥46 million, and net loss of ¥63 million. The Board of Directors of Earth Chemical Co., Ltd. made a resolution in favor of the transaction on March 24, 2017. The scheduled closing date is March 28, 2017.
Earth Chemical Co., Ltd. (TSE:4985) cancelled the acquisition of 34.15% stake in Protoleaf Inc. from Hyponex Japan Corp., Ltd. on March 24, 2018.
Earth Corporation, formerly EARTH CHEMICAL CO., LTD. is a company mainly engaged in manufacturing and sales of insecticides and household products. The Company operates through two business segments. The Household Products segment is engaged in manufacturing, sales, import and export of household insecticides, garden products, pet supplies, household insecticides, including mouth washes, denture related supplies, tooth brushing products, bathing agents, deodorant fragrances. This segment also provides drugs for infectious disease control, agricultural and animal husbandry, as well as provision of raw materials for overseas. The Comprehensive Environmental Hygiene segment is engaged in provision of environmental hygiene services for food and medicine factories, and provision of related consulting services. The other business engages in environmental hygiene management work, including insect and rat control, cleaning and disinfection restaurants and office buildings.