Kyokuto Boeki Kaisha, Ltd. signed an agreement to acquire Plant Maintenance Corporation from Ant Bridge No.4-A Private Equity Secondary Investment Fund, Limited Partnership, a fund managed by Ant Capital Partners Co., Ltd., Tomokazu Takahashi, Keiko Nogita and Miyoko Murakami for ¥960 million.
March 25, 2018
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Kyokuto Boeki Kaisha, Ltd. (TSE:8093) signed an agreement to acquire Plant Maintenance Corporation from Ant Bridge No.4-A Private Equity Secondary Investment Fund, Limited Partnership, a fund managed by Ant Capital Partners Co., Ltd., Tomokazu Takahashi, Keiko Nogita and Miyoko Murakami for ¥960 million on March 26, 2018. Under the terms of the transaction, Kyokuto Boeki Kaisha, Ltd. will acquire 800 shares of Plant Maintenance Corporation. Ant Bridge No.4-A Private Equity Secondary Investment Fund, Limited Partnership, a fund managed by Ant Capital Partners Co., Ltd., Tomokazu Takahashi, Keiko Nogita, and Miyoko Murakami will transfer 95%, 2.5%, 1.25%, and 1.25% respectively. Upon completion, Plant Maintenance Corporation will operate as subsidiary of Kyokuto Boeki Kaisha, Ltd. For the year ended March 2017, Plant Maintenance Corporation reported total assets of ¥974 million, net assets of ¥451 million, sales of ¥1.7 billion, operating income of ¥30 million, and net income of ¥21 million. The transaction was resolved by the Board of Directors of Kyokuto Boeki Kaisha, Ltd. on March 26, 2018. The transaction is expected to close on April 1, 2018.
Kyokuto Boeki Kaisha, Ltd. is a Japan-based company engaged in the trading business. The Basic Industry Related division provides machinery and equipment for steel, nonferrous metals, automobile, chemicals, shipbuilding and plant engineering industries, electrical machinery, oil drilling related equipment and resources development equipment. The Electronics and Control System Related division offers electronic components and equipment, software, instrumentation and control systems, image processors, ground support electronic equipment and navigation equipment, as well as automatic control devices for thermal power stations. The Industrial Materials division provides combined material manufacturing machinery, as well as machines for textile processing, meat processing, resin finishing, coating, measurement and analysis, among others. As of March 31, 2014, the Company had 11 subsidiaries and eight associated companies.
Kyokuto Boeki Kaisha, Ltd. signed an agreement to acquire Plant Maintenance Corporation from Ant Bridge No.4-A Private Equity Secondary Investment Fund, Limited Partnership, a fund managed by Ant Capital Partners Co., Ltd., Tomokazu Takahashi, Keiko Nogita and Miyoko Murakami for ¥960 million.