Sanyo Trading Co., Ltd. conclude a share transfer agreement to acquire Scrum Inc. from Seiko Holdings Corporation.
February 20, 2022
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Sanyo Trading Co., Ltd. (TSE:3176) conclude a share transfer agreement to acquire Scrum Inc. from Seiko Holdings Corporation (TSE:8050) on February 21, 2022. The acquisition price uses the earn-out method, and if certain conditions stipulated in the share transfer agreement are met, an additional acquisition price will be incurred within three years after the acquisition. As part of the transaction, Sanyo Trading will acquire 420 shares, representing 100% of the voting rights in Scrum.
Fiscal year ending March 2021, Scrum reported Net assets of ¥1.07 billion, Total assets of ¥2.23 billion, sales of ¥3.52 billion and Net income of ¥407 million. The transaction is resolved by the board of Sanyo Trading and expected to complete on February 25, 2022. The transaction is expected to have a minor impact on Sanyo Trading's consolidated financial results for the current fiscal year.
Sanyo Trading Co., Ltd. is engaged in the trading of rubber, chemicals, machinery equipment, scientific equipment and automobile parts. The Company operates in four segments. The Chemical segment offers synthetic rubber, auxiliary materials for rubber, natural rubber, medical-related materials, plasticizer, resin tube, reclaimed rubber, adhesives, synthetic resins, ink, industrial gases, pesticides, ceramics, various films, pigment, pharmaceutical intermediates, perfumes and surfactants, among others. The Machinery and Equipment segment offers environment-related equipment, test equipment, measuring equipment, industrial instrumentation, thermal processing equipment and others. The Overseas Subsidiary segment offers synthetic rubber, natural rubber, medical-related materials and various films, among others. The Domestic Subsidiary segment offers industrial drugs, oil drilling devices and others. The Domestic Subsidiary segment provides oil, natural gas and geothermal drilling products.