Harvest Premier Investment Corporation agreed to acquire an additional 11.94% stake in Gokurakuyu Co., Ltd. from Takatomo Niikawa, Toru Takano, Shunji Matsumoto, Takeru Yamaguchi, Satoshi Hanezuka and Masaki Nishiyama.
May 28, 2014 at 12:00 am EDT
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Harvest Premier Investment Corporation agreed to acquire an additional 11.94% stake in Gokurakuyu Co., Ltd. (JASDAQ:2340) from Takatomo Niikawa, Toru Takano, Shunji Matsumoto, Takeru Yamaguchi, Satoshi Hanezuka and Masaki Nishiyama on May 27, 2014. Takatomo Niikawa is selling its 0.32 million shares, Toru Takano is selling its 0.22 million shares, Shunji Matsumoto is selling its 0.22 million shares, Takeru Yamaguchi and Satoshi Hanezuka is selling 0.2 million shares each and Masaki Nishiyama is selling 0.1 million shares of Gokurakuyu Co., Ltd. Under the terms of agreement, Harvest Premier Investment Corporation is acquiring 1.28 million shares of Gokurakuyu Co., Ltd. and paying ¥424 per share.
Harvest Premier Investment Corporation signed a share transfer contract to acquire an additional 11.94% stake in Gokurakuyu Co., Ltd. (JASDAQ:2340) from Takatomo Niikawa, Toru Takano, Shunji Matsumoto, Takeru Yamaguchi, Satoshi Hanezuka and Masaki Nishiyama for approximately ¥540 million on May 30, 2014. The transaction is expected to be closed by on June 10, 2014.
GOKURAKUYU HOLDINGS CO., LTD. is a Japan-based company mainly engaged in the hot bath business. The Company operates through two regional segments. The Company is mainly engaged in the operation of large-scale hot bath facilities (super public baths) in Japan and overseas under the names GOKURAKUYU and RAKU SPA. The directly operated stores receive entrance fee income, food and beverage income, hairdressing income and merchandise sales income. The franchise stores receive merchandise sales income and royalty income related to super public bath management based on membership contracts. The Company is also engaged in the operation of soba and tempurameshi stores Kojimachi Baraku in Japan, as well as the operation of hotels in overseas.
Harvest Premier Investment Corporation agreed to acquire an additional 11.94% stake in Gokurakuyu Co., Ltd. from Takatomo Niikawa, Toru Takano, Shunji Matsumoto, Takeru Yamaguchi, Satoshi Hanezuka and Masaki Nishiyama.
GOKURAKUYU HOLDINGS CO., LTD. 
