Escrow Agent Japan, Inc. cancelled the acquisition of NEG Plan Co., Ltd. from Toshiaki Kimura and Yasumaru Okabe.
February 14, 2019
Share
Escrow Agent Japan, Inc. (TSE:6093) agreed to acquire NEG Plan Co., Ltd. from Toshiaki Kimura and Yasumaru Okabe for ¥26.4 million on February 15, 2018. The agreement is expected to be concluded on February 20, 2018. Under the terms of transaction, Escrow Agent Japan, Inc. will issue shares as consideration. The share exchange ratio is expected to be decided on March 15, 2018. On March 15, 2018, Escrow Agent Japan, Inc. announced that it will issue 555.53 common shares for every share of NEG Plan Co., Ltd. Toshiaki Kimura and Yasumaru Okabe will transfer 72.73% and 27.27% stake respectively. Upon completion, NEG Plan Co., Ltd. will operate as wholly owned subsidiary of Escrow Agent Japan, Inc. For the year ended March 31, 2017, NEG Plan Co., Ltd. reported sales of ¥451 million, operating profit of ¥14 million, and net profit of ¥12 million. As of March 31, 2017, NEG Plan Co., Ltd. reported total assets of ¥192 million and net assets of ¥46 million.
The shareholders meeting of Escrow Agent Japan, Inc. is expected to be held on March 30, 2018 to approve the transaction. The transaction is expected to be completed by April 1, 2018.
Escrow Agent Japan, Inc. (TSE:6093) cancelled the acquisition of NEG Plan Co., Ltd. from Toshiaki Kimura and Yasumaru Okabe on February 15, 2019.
Escrow Agent Japan, Inc. manages the administrative affairs between the sales contracting and the transaction settlement in the real estate transaction. The The company provides various services to financial institutions, judicial scrivener and real estate and construction companies, to improve the rationalization and efficiency of administrative work and the reliability of affairs. The Company operates in three segments. The Escrow Service segment provides systems and information technology (IT) service, building complete and delivery support service, as well as escrow accounts. The Business Process Outsourcing (BPO) segment provides property investigation, support service for execution of loan agreement, as well as manpower dispatching service. The Real Estate Auction segment provides real estate investigation, transaction price determination using real estate auction system, trust account for risk avoidance.
ESCROW AGENT JAPAN, INC. 
