Stream Co.,Ltd. completed the acquisition of 80% stake in X-One Co Ltd. from Fuso Chemical Co. Ltd..
February 02, 2014 at 11:00 pm EST
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Stream Co.,Ltd. (TSE:3071) signed a contract to acquire 80% stake in X-One Co Ltd. from Fuso Chemical Co. Ltd. (JASDAQ:4368) for approximately ¥220 million on November 22, 2013. Stream Co.,Ltd. is acquiring 0.08 million shares of X-One Co Ltd. representing 80% stake. For the period ending February 2013, X-One Co Ltd. reported total assets of ¥647 million, net assets of ¥371 million, sales of ¥1.84 billion, operating profit of ¥4 million and no net profit. The Board of Directors of Stream Co.,Ltd. passed a resolution for the acquisition on November 22, 2013 and it is expected to close by February 3, 2014.
Stream Co.,Ltd. (TSE:3071) completed the acquisition of 80% stake in X-One Co Ltd. from Fuso Chemical Co. Ltd. (JASDAQ:4368) on February 3, 2014.
FUSO CHEMICAL CO., LTD. is a Japan-based company mainly engaged in the life science business and the electronic material business. It operates through two business segments. The Life Science segment manufactures and sells fruit acids, including apple acids, gluconic acid and citric acids, as well as application development products, which are used in quality improvers for noodle products, preservation for processed foods and laver cultivation, total sanitation of food manufacturers and the improving of metal processing. The Electronic Material and Functional Chemical segment provides electronic materials, including high-purity spherical silica; functional chemicals, including plastic, paint additives and resin additives, as well as fine chemicals. It is also involves in organic acid business.
FUSO CHEMICAL CO.,LTD. 
