Goodspeed. Co., Ltd. agreed to acquire Champion Co., Ltd. from Takeo Akiba for ¥850 million.
February 18, 2021
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Goodspeed. Co., Ltd. (TSE:7676) agreed to acquire Champion Co., Ltd. from Takeo Akiba for ¥850 million on February 19, 2021. Goodspeed plans to raise ¥850 million from MUFG Bank, Ltd to fund the transaction and plans to raise ¥500 million from MUFG Bank, Ltd pay Champion debt. As of May 31, 2020, Champion had net assets of ¥1.1 billion and total assets of ¥1.6 billion. For the period ended May 31, 2020, Champion generated revenue of ¥718 million and net profit of ¥29 million. Board of Directors of Goodspeed approved the transaction. transaction is expected to complete by march 1, 2021.
Good Speed Co Ltd is a Japan-based company principally involved in the sale of used cars and motorcycles, automobile sales, and related businesses. The Company provides used car sales, car purchasing, maintenance and body repair, insurance agency, rental car, and gas station services. The used car sales business operates MEGA specialty stores for used cars, domestic car specialty stores, and imported car specialty stores. The car acquisition business acquires cars through batch acquisition assessment sites operated by multiple companies. The maintenance and sheet metal business provides services such as the maintenance of sold cars and car inspections. Insurance agency business provides agency service of general insurance companies. The car rental business provides vehicle rental services.
GOODSPEED CO.,LTD. 