Japan Elevator Service Holdings Co.,Ltd. concluded a contract to acquire Cosmo Japan, Inc. from four individuals.
September 13, 2020
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Japan Elevator Service Holdings Co.,Ltd. (TSE:6544) concluded a contract to acquire Cosmo Japan, Inc. from four individuals on September 14, 2020. As per terms, all 300 shares will be acquired and Cosmo Japan, Inc. will operate as a subsidiary. For the year ended March 31, 2020, Cosmo Japan, Inc. reported net liabilities of ¥4.8 million, total assets of ¥33.2 million, sales of ¥83.4 million, operating loss of ¥5.4 million and net loss of ¥6.3 million. The Board of Directors of Japan Elevator Service Holdings Co.,Ltd. resolved the deal on September 14, 2020. The deal is expected to close on October 2, 2020.
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the provision of the maintenance and inspection service for elevators and escalators, as well as the renewal service for elevators. The Company operates three kind of businesses. The maintenance and inspection business is involved in the provision of maintenance, inspection, replace and repair services for the engine performance and the operation safety of elevators and escalators. The renewal business is involved in the provision of a full range of main componentsâ replacing service, the removal service of products already in the field, as well as the new setting service for elevators which are installed 20 years ago. The others business is involved in the sale of parts for elevatorâs maintenance.
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. 
