Kawakin Holdings Co., Ltd. (TSE:5614) and Nobuyoshi Suzuki agreed to acquire in Tokyo Rika Kogyo Co., Ltd. from Tori Holdings Co., Ltd. (TSE:5856) and others for ¥80 million on August 25, 2016. Under the terms, Kawakin Holdings Co., Ltd. will acquire 95% and Nobuyoshi Suzuki will acquire 5% stake. 1.5 billion shares will be acquired for ¥0.05 per share. On completion, Tokyo Rika Kogyo will become a subsidiary of Kawakin Holdings. Tokyo Rika Kogyo reported net assets of ¥407 million, total assets of ¥1.13 billion, sales of ¥2.4 billion, operating profit of ¥75 million and net income of ¥95 million as of March 2016. The board of directors of Tokyo Rika Kogyo Co., Ltd. resolved the transaction. The transaction is expected to close on October 1, 2016.

Kawakin Holdings Co., Ltd. (TSE:5614) and Nobuyoshi Suzuki completed the acquisition of Tokyo Rika Kogyo Co., Ltd. from Tori Holdings Co., Ltd. (TSE:5856) and others on December 31, 2016.