ITL Holdings Co., Ltd. entered into an agreement to acquire Mode Et Jacomo Co.,Ltd. and Kowa Sogyo Co., Ltd. and 95% stake in Ogitsu CO.,LTD. from Laox CO., LTD..
March 25, 2021
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ITL Holdings Co., Ltd. entered into an agreement to acquire Mode Et Jacomo Co.,Ltd. and Kowa Sogyo Co., Ltd. and 95% stake in Ogitsu CO.,LTD. from Laox CO., LTD. (TSE:8202) on March 25, 2021. Under the terms, Laox CO., LTD. will transfer 6,000 Mode Et Jacomo shares, 14,000 Kowa Sogyo shares and 12,200 Ogitsu shares. Mode Et Jacomo reported net liabilities of ¥422 million, total assets of ¥1.5 billion, sales of ¥621 million, operating profit of ¥24 million, ordinary profit of ¥11 million and net loss of ¥859 million, Kowa Sogyo Co., Ltd. reported net liabilities of ¥182 million, total assets of ¥618 million, operating profit of ¥0 million, ordinary profit of ¥8 million and net loss of ¥580 million and Ogitsu CO.,LTD. reported net assets of ¥2.6 billion, total assets of ¥5.8 billion, sales of ¥4.1 billion, operating loss of ¥297 million, ordinary loss of ¥211 million and net loss of ¥769 million for the year ended December 2020. At the Board of Directors meeting held on March 26, 2021, Laox have resolved to transfer all shares held in Mode Et Jacomo Co.,Ltd., Kowa Sogyo Co., Ltd. and Ogitsu CO.,LTD. The transaction is expected April 30, 2021.
Laox Holdings Co Ltd is a Japan-based company mainly engaged in domestic retail business, overseas business, lifestyle fashion business, and asset business. The Company operates through four segments. The Domestic Retail segment sells mainly food and cosmetics in domestic shops through real shops and online stores. The Overseas segment focuses on high-quality Japanese products and develops trade, global e-commerce (EC) and support for expansion into China through various channels and networks, whether direct-to-consumer (BtoC) or business-to-business (BtoB), real or online. The Lifestyle Fashion segment sells gift-related products through multiple sales channels. The Asset segment is engaged in the operation and management of commercial complexes, restaurants, and cultural events, and the sale and brokerage of real estate.
ITL Holdings Co., Ltd. entered into an agreement to acquire Mode Et Jacomo Co.,Ltd. and Kowa Sogyo Co., Ltd. and 95% stake in Ogitsu CO.,LTD. from Laox CO., LTD..
LAOX HOLDINGS CO.,LTD. 
