LEC, Inc. cancelled the acquisition of Lion Packaging Co., Ltd. from Lion Corporation.
August 02, 2019
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LEC, Inc. (TSE:7874) signed an agreement to acquire Lion Packaging Co., Ltd. from Lion Corporation (TSE:4912) on August 3, 2018. In a related transaction, LEC, Inc. (TSE:7874) agreed to acquire Varsan Business of Lion Corporation on August 3, 2018. The acquisition value of the transaction is ¥1.4 billion for share and business acquisition. Post transfer, Lion Packaging Co., Ltd. will become a consolidated subsidiary of LEC, Inc. During the financial year ended December 2017, Lion Packaging Co., Ltd. reported net assets of ¥3.4 billion, total assets of ¥5.9 billion, sales of ¥12.4 billion, operating income of ¥530 million and net income of ¥131 million. The transaction has been resolved by the Board of LEC, Inc. The transaction is expected to be completed on December 28, 2018.
LEC, Inc. (TSE:7874) cancelled the acquisition of Lion Packaging Co., Ltd. from Lion Corporation (TSE:4912) on August 3, 2019.
LEC, INC. is a company primarily engaged in the design, manufacture and sale of daily miscellaneous products. The Company operates Daily Miscellaneous Products and Clothing business segment. The Company manufactures, sells, imports and exports household goods, gifts, and promotional goods for companies.
LEC, INC. 
