Koatsu Gas Kogyo Co., Ltd. cancelled the acquisition of remaining 57.99% stake in Suzuka Fine Co., Ltd. from AkikiyoTanaka, Daisuke Kutsuna, The Kouyoh Trading Co., Ltd. and other shareholders.
August 09, 2014 at 12:00 am EDT
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Koatsu Gas Kogyo Co., Ltd. (TSE:4097) entered into a share exchange contract to acquire remaining 57.99% stake in Suzuka Fine Co., Ltd. from AkikiyoTanaka, Daisuke Kutsuna, The Kouyoh Trading Co., Ltd. and other shareholders for approximately ¥640 million in stock on August 9, 2013. Koatsu Gas will issue 1.22 million treasury shares in an exchange ratio of 0.29. AkikiyoTanaka, Daisuke Kutsuna and The Kouyoh Trading will sell 4.3%, 4.1% and 1.8% stake respectively. On completion, Suzuka Fine Co., Ltd. will become a fully-owned subsidiary of Koatsu Gas Kogyo.
For year ended March 31, 2013, Suzuka Fine Co., Ltd. reported net assets of ¥1.84 billion, total assets of ¥7.12 billion, sales of ¥8.66 billion, operating profit of ¥253 million, current profit of ¥257 million and net income of ¥165 million. The transaction is subject to approval by shareholders of Suzuka Fine in shareholders' meeting to be held on November 20, 2013. The transaction is expected to be completed on February 1, 2014.
Koatsu Gas Kogyo Co., Ltd. (TSE:4097) cancelled the acquisition of remaining 57.99% stake in Suzuka Fine Co., Ltd. from AkikiyoTanaka, Daisuke Kutsuna, The Kouyoh Trading Co., Ltd. and other shareholders on August 9, 2014.
KOATSU GAS KOGYO CO., LTD. is a Japan-based company involved in the gas and chemical business. The Gas segment is engaged in the purchase, manufacture and sale of high pressure gas including dissolved acetylene gas, oxygen, nitrogen, argon gas and carbon dioxide gas, as well as liquefied petroleum gas (LPG), which are used in construction works, bridge works, shipbuilding and machinery. This segment also provides gas equipment. The Chemical segment is engaged in the purchase, manufacture and sale of instant adhesives, including synthetic resin emulsion that is used as adhesives, paint coatings, construction work materials and bonding adhesives, as well as chemical-related raw materials and sub-related materials. This segment is also engaged in the water coating works. The Others segment provides large-scale integration (LSI) cards and peripheral devices.
Koatsu Gas Kogyo Co., Ltd. cancelled the acquisition of remaining 57.99% stake in Suzuka Fine Co., Ltd. from AkikiyoTanaka, Daisuke Kutsuna, The Kouyoh Trading Co., Ltd. and other shareholders.
KOATSU GAS KOGYO CO., LTD. 
