Shimojima Co., Ltd. agreed to acquire Asahi Jushi Kogyo K.K.
November 24, 2019
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Shimojima Co., Ltd. (TSE:7482) agreed to acquire Asahi Jushi Kogyo K.K. on November 25, 2019. Shimojima will acquire 0.14 million, representing 100% stake in Asahi Jushi Kogyo. Asahi Jushi Kogyo generated total assets of ¥1453 million and sales of ¥1682 million for the fiscal year ended July 2019. The Board of Directors of Shimojima approved the transaction. The definitive agreement expected to be signed on November 28, 2019. The transaction is expected to close on December 19, 2019.
Shimojima Co Ltd is a Japan-based company principally engaged in the purchase and sale of packing materials such as paper bags, wrapping paper/cartons, plastic bags, adhesive tapes, strings/ribbons, and store supplies. The Company operates through three segments. The Paper Products segment is engaged in the sale of original brand products including paper bags, wrapping paper and paper containers. The Chemical Products and Packaging Materials segment is engaged in the sale of chemical products such as polyethylene bags and polypropylene (PP) bags, as well as adhesive tapes, food packaging materials and string ribbons. The Store Supplies segment is engaged in the sale of horticultural-related materials, and apparel-related materials including office supplies, store supplies, daily necessities, foodstuffs, as well as hangers that are handled by subsidiaries. The Company is also engaged in logistics business.
SHIMOJIMA CO., LTD. 
