Katakura Industries Co.,Ltd. concluded a share exchange agreement to acquire remaining 29.5% in Nihon Kikai Kogyo Co., Ltd. from a group of shareholders for ¥50.4 million.
May 24, 2020
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Katakura Industries Co.,Ltd. (TSE:3001) concluded a share exchange agreement to acquire remaining 29.5% in Nihon Kikai Kogyo Co., Ltd. from a group of shareholders for ¥50.4 million on May 25, 2020. The shares will be acquired at ¥70 per share. Out of the 2.4 million outstanding shares of Nihon Kikai Kogyo Co., Ltd., Katakura Industries Co.,Ltd. holds 1.7 million shares. Post completion, Nihon Kikai Kogyo Co., Ltd. will operate as a subsidiary. The Board of Directors of Katakura Industries Co.,Ltd. and Nihon Kikai Kogyo Co., Ltd. resolved the transaction on May 25, 2020. The deal does not require approval from shareholders. The deal is expected to close on July 1, 2020. AGS Consulting Co., Ltd. acted as valuer for Katakura Industries Co.,Ltd. while OAG Certified Public Tax Accountant's Corporation acted as valuer for Nihon Kikai Kogyo Co., Ltd.
Katakura Industries Co.,Ltd. is a Japan-based company mainly engaged in the real estate operation and leasing, as well as the manufacture and sale of mechanical maintenance products and auto parts. The Company operates through four business segments. The Textile segment is engaged in the manufacture and sale of underwear, socks, silk products, casual innerwear, adjusted underwear and functional fibers, as well as the brand licensing business. The Pharmaceutical segment manufactures and sells ethical drugs. The Machinery-Related segment manufactures and sells fire trucks, automobile parts, agricultural machinery and imports and sells petroleum products. The Real Estate segment operates shopping centers and rents real estate. The Company is also involved in the home improvement, building management services, sales of flower visiting insects, low potassium lettuce, production and sales of Hanabiratake and day services.
Katakura Industries Co.,Ltd. concluded a share exchange agreement to acquire remaining 29.5% in Nihon Kikai Kogyo Co., Ltd. from a group of shareholders for ¥50.4 million.
KATAKURA INDUSTRIES CO.,LTD. 
