REFINVERSE Group, Inc. entered into a basic agreement to acquire Connection Co., Ltd. from Shuhei Yamamoto.
May 29, 2022
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REFINVERSE Group, Inc. (TSE:7375) entered into a basic agreement to acquire Connection Co., Ltd. from Shuhei Yamamoto on May 30, 2022. REFINVERSE Group, Inc. will acquire 60 shares of Connection Co., Ltd. in the deal. Connection Co., Ltd. had total assets of ¥1.4 billion, net assets of ¥13 million, sales of ¥900 million, operating income of ¥15 million and nil net income for the year ended October 2021. The Board of REFINVERSE Group, Inc. has resolved the deal on May 30, 2022. The share transfer agreement signing date is planned during June 2022.The deal is expected to complete during July 2022. As of June 17, 2022, REFINVERSE Board of Directors, resolved to conclude a share transfer agreement with our shareholders. Share transfer agreement date is planned to be June 30, 2022. and share transfer execution date is July 1, 2022.
Refinverse Group Inc plans and decides group strategies, manages the business activities of group companies, supports and guides the management (planning, human resources, finance, accounting, general affairs and others), provides research and development, technical support, and others as a holding company. Through the wholly owned subsidiary, the Company develops business for the purpose of recycling waste in the product life cycle in the manufacturing industry and consists of recycled resin manufacturing and sales business and industrial waste treatment business. The Company operates in two business segments. The Recycled Resin Manufacturing and Sales segment is engaged in manufacturing and sales of synthetic resin products used for manufacturing tile carpet through reproduction processing for discarded carpet tiles. The Industrial Waste Treatment segment is engaged in collection, transportation and intermediate processing of construction waste in the Tokyo metropolitan area.
REFINVERSE GROUP, INC. 
