Recomm Co., Ltd. entered into a share transfer agreement to acquire 30% stake in Greentech International Pte. Ltd Bernard Sim, Lim Kim Hoon and Frankie Tanfrom.
May 13, 2021
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Recomm Co., Ltd. (JASDAQ:3323) entered into a share transfer agreement to acquire 30% stake in Greentech International Pte. Ltd Bernard Sim, Lim Kim Hoon and Frankie Tanfrom on May 14, 2021. Under terms of transaction, Recomm will acquire 0.06 million shares of GI and also considering acquiring all of the company's shares in the future. For year ended December 31, 2020, The GI had total asset, net asset, Sales and net income was ¥ 670 million, ¥940 million, ¥1.1 billion and ¥382 million respectively. The transaction will be expected to execute on May 31, 2021. As on May 31, 2021, the transaction has been postponed and date has not been disclosed. This matter will have a minor impact on the Recomm Co., Ltd. consolidated financial results for the fiscal year ending September, 2021. The deal is expected to be completed by June 25, 2021.
RECOMM CO., LTD., formerly RECOMM HOLDINGS CO., LTD., is a Japan-based holding company mainly engaged in the information communication equipment business. The Company operates in three business segments. The Information Communication segment sells business phones, digital multifunction peripherals (MFPs) and other office automation (OA) equipment through the Company's operating stores, franchise stores and agencies. The Business Process Outsourcing (BPO) business operates outsourced business from within the group, outsourced business from customers outside the group mainly in China. The Overseas Corporate segment sells eco products such as LEDs and information communication equipment in China and Vietnam.
Recomm Co., Ltd. entered into a share transfer agreement to acquire 30% stake in Greentech International Pte. Ltd Bernard Sim, Lim Kim Hoon and Frankie Tanfrom.
RECOMM CO., LTD. 
