Mainichi Comnet Co., Ltd. completed the acquisition of an additional 49% stake in WORKS JAPAN Co., Ltd. from Kei Advanced, Inc.
March 01, 2015 at 11:00 pm EST
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Mainichi Comnet Co., Ltd. (JASDAQ:8908) entered into contract to acquire an additional 49% stake in WORKS JAPAN Co., Ltd. from Kei Advanced, Inc. for ¥87.8 million on December 18, 2014. Under the terms of agreement, Mainichi Comnet Co., Ltd. will acquire 980 shares and will increase its holding to 1740 shares. During the period ended May 2014, WORKS JAPAN had net assets of ¥181.05 million, total assets of ¥705.35 million, sales of ¥1.73 billion, operating profit of ¥87.94 million and net income of ¥51.91 million.
The Board of Directors of Mainichi Comnet Co., Ltd. made a resolution in favor of the transaction on December 18, 2014. The tentative share transfer execution date is March 2, 2015.
Mainichi Comnet Co., Ltd. (JASDAQ:8908) completed the acquisition of an additional 49% stake in WORKS JAPAN Co., Ltd. from Kei Advanced, Inc. on March 2, 2015.
MAINICHI COMNET CO., LTD. is a Japan-based company mainly engaged in the real estate solutions business. The Company operates through two business segments. The Real Estate Solution segment is engaged in the development, consulting, rental, management, tenant recruitment and brokerage businesses of rental housing for students, as well as the natural energy generation business. The Student Life Solution segment is engaged in the planning and sale of training camps and general travel for university students mainly in Tokyo, Chiba, Kanagawa and Saitama prefecture, the planning and operation of sports and musical events, the provision of employment information, recruitment consulting, recruitment publicity support, recruitment system, company briefings and employment related seminars to students.
MAINICHI COMNET CO., LTD. 
