Hard Off Corporation Co.,Ltd. entered into a basic agreement to acquire remaining 70% stake in Ecoplus Co., Ltd. from i-Mat Co., Ltd, Eco Plus Employee Shareholding Association, Shigeru Imai and others for approximately ¥430 million.
May 24, 2020
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Hard Off Corporation Co.,Ltd. (TSE:2674) entered into a basic agreement to acquire remaining 70% stake in Ecoplus Co., Ltd. from i-Mat Co., Ltd, Eco Plus Employee Shareholding Association, Shigeru Imai and others for approximately ¥9.1 billion on May 25, 2020. As part of the consideration, Hard Off Corporation Co.,Ltd. will issue 13.95 million shares to Ecoplus. As on August 31, 2020, Hard Off Corporation Co.,Ltd. entered into an contract to acquire remaining 70% stake in Ecoplus Co., Ltd. from i-Mat Co., Ltd, Eco Plus Employee Shareholding Association, Shigeru Imai and others for approximately ¥430 million. As per terms of transaction, Hard Off Corporation Co.,Ltd. will issue 23 shares for every share Ecoplus Co., Ltd, leading to issue of 0.644 million share. I-MAT CO.,LTD sold 34.8% and Shigeru Imai sold 10.3 %. Post the acquisition, Ecoplus Co., Ltd. will be the wholly owned subsidiary of Hard Off Corporation Co.,Ltd. As of March 31, 2020, Ecoplus has a net assets of ¥651 million, total assets of ¥2.1 billion, revenue of ¥3.2 billion and operating profit of ¥1.2 billion. The general meeting of shareholders to be held on August 19, 2020. As of August 11, 2020, the planned contract date has been changed to August 31, 2020 and the general meeting of shareholders will be held on September 8, 2020. The transaction is expected to close on October 1, 2020.
Hard Off Corporation Co Ltd is a Japan-based company mainly engaged in the purchase and sale of reused goods. It operates through two segments. The Reuse segment operates the reuse shops Hard Off, Off House, Mode Off, Garage Off, Hobby Off, Liquor Off, and Book Off (Franchisee). Hard Off buys and sells computers, audio and visual equipment, musical instruments, and watches. Off House buys and sells brand-name products, furniture, and interior goods. Mode Off buys and sells women's and men's clothing, and bags. Garage Off buys and sells audio equipment, tires, dress-up products, and other automotive accessories. Hobby Off buys and sells trading cards and games. Liquor Off buys and sells alcoholic beverages, and glasses. Book Off buys and sells books, and compact discs (CDs). The Franchise (FC) segment operates the franchise chain business of the reuse shops Hard Off, Off House, Mode Off, Garage Off, Hobby Off, and Liquor Off. The Company is also engaged in systems development business.
Hard Off Corporation Co.,Ltd. entered into a basic agreement to acquire remaining 70% stake in Ecoplus Co., Ltd. from i-Mat Co., Ltd, Eco Plus Employee Shareholding Association, Shigeru Imai and others for approximately ¥430 million.
HARD OFF CORPORATION CO.,LTD. 
