Iida Group Holdings Co., Ltd. entered into basic agreement to acquire First Wood Co., Ltd. from a group of sellers for approximately ¥790 million.
March 06, 2014
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Iida Group Holdings Co., Ltd. (TSE:3291) entered into basic agreement to acquire First Wood Co., Ltd. from a group of sellers on March 7, 2014. Rei Sawada will sell 48.84% stake, Hajime Construction Co., Ltd. will sell 5.75% stake, Arnest One Corporation will sell 5.75% stake, First Juken Co., Ltd. (TSE:8917) will sell 5.75% stake, Iida Sangyo Co., Ltd. will sell 5.03% stake, Touei Housing Corporation will sell 5.03% stake, Takao Nakayama will sell 3.95% stake, Tact Home Co., Ltd. will sell 2.59% stake, and Koma Seki will sell 2.30% stake and the unknown seller will sell 13.51% stake. Iida Group Holdings Co., Ltd. will acquire 0.01 million shares of First Wood Co., Ltd. After the transaction, First Wood will operate as a subsidiary of Iida Group Holdings.
During the year ended December 2013, First Wood Co.,Ltd. had net assets of ¥1.26 billion, total assets of ¥19.59 billion, net sales of ¥25.44 billion, operating income of ¥390 million, ordinary income of ¥102 million and net income of ¥59 million. Board of Directors of Iida Group passed a resolution for the transaction on March 7, 2014. The scheduled share transfer contract conclusion is April 7, 2014. The transaction is expected to close in mid May 2014.
As on April 7, 2014, Iida Group Holdings Co., Ltd. (TSE:3291) to acquire 88.79% stake in First Wood Co., Ltd. for approximately ¥790 million. The transaction is expected to close on May 22, 2014.
Iida Group Holdings Co.,Ltd. is a Japan-based company engaged in the detached houses sale business, the condominiums sale business, the contract construction business and related business. The Company has six business segments. The Hajime Construction Group segment and the Arnest One segment are engaged in the detached houses sale business, the condominiums sale business and the contract construction business. The Iida Industry Group segment is engaged in the detached houses sale business, the condominiums sale business, the contract construction business, the real estate leasing business and the spa hot springs business. The Toei Housing Group segment and the Tact Home Group segment are engaged in the detached houses sale business, the contract construction business and the real estate leasing business. The ID Home segment is engaged in the detached houses sale business and the contract construction business. The Company is also engaged in the sale and processing of wood products.
IIDA GROUP HOLDINGS CO., LTD. 
