Kamei Corporation acquired Avis Group, Inc. from Masayuki Nozue, Yoshiya Watanabe, and Bruce R. Bailey for ¥85 million.
December 26, 2012 at 11:00 pm EST
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Kamei Corporation (TSE:8037) agreed to acquire Avis Group, Inc. from Masayuki Nozue, Yoshiya Watanabe, and Bruce R. Bailey for ¥85 million on December 17, 2012. Kamei Corporation will acquire 600 shares of Avis Group. Masayuki Nozue will sell 65.2% stake, Yoshiya Watanabe will sell 25% stake, and Bruce R. Bailey will sell 9.8% stake. Kamei Corporation will operate Avis Group as its subsidiary. For the year ending March 2011, Avis Group had net assets of ¥64.2 million, total assets of ¥156.61 million, sales of ¥1.01 billion, operating loss of ¥19.92 million, current loss of ¥19.67 million, and net loss of ¥20.47 million.
Kamei Corporation (TSE:8037) completed the acquisition of Avis Group, Inc. from Masayuki Nozue, Yoshiya Watanabe, and Bruce R. Bailey on December 21, 2012.
KAMEI CORPORATION is engaged in the energy business. Energy segment distributes gasoline, kerosene, light oil, heavy oil and liquefied petroleum gas. Food segment distributes beer and wine products, and operates supermarkets. Housing segment distributes housing appliances and equipment, and operates renovation business. Automobile segment distributes domestic and imported cars, and operates car leasing. Overseas and Trading business segment exports tires, bearings and tanker planes, and imports and sells seafood, apparel products, beer and wine. Pet segment sells pet food, pet supplies and gardening supplies. Pharmacy segment operates dispensaries, and distributes drugs. The Others segment provides information equipment and office supplies, property leasing, insurance agency service.
KAMEI CORPORATION 
