S Foods Inc. completed the acquisition of Naigai Food K.K. from Kitoku Shinryo Co., Ltd..
February 27, 2017
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S Foods Inc. (TSE:2292) agreed to acquire Naigai Food K.K. from Kitoku Shinryo Co., Ltd. (JASDAQ:2700) on July 26, 2016. For the year ending December 2015, Naigai Food reported net assets of ¥1.2 billion, total assets of ¥2.3 billion, sales of ¥4.3 billion, operating income of ¥41 million and net income of ¥77 million. The contract conclusion is expected on July 27, 2016. The transaction is expected to close on August 1, 2016.
S Foods Inc. (TSE:2292) completed the acquisition of Naigai Food K.K. from Kitoku Shinryo Co., Ltd. (JASDAQ:2700) on February 28, 2017.
KITOKU SHINRYO CO., LTD. is a Japan-based company mainly engaged in the rice business, the feed business, the chicken egg business and the food business. The Company operates in four business segments. The Rice segment is engaged in the manufacture and sale of general milled rice and rinse-free milled rice for commercial uses and family uses, rice for cooked rice uses, and minimum access rice, as well as the sale of brown rice to wholesalers and retailers. The Feed segment is engaged in the sale of feed products such as rice bran products and imported pastures, and feed raw materials. The Chicken Egg segment is engaged in the sale of eggs for commercial uses and family uses, and processed egg products. The Food segment is engaged in the manufacture and sale of rice flours for confectioneries and processed food products, as well as processed food products and protein-modified rice.