SHINTO Holdings, Inc. completed the acquisition of Dadu Holdings Co., Ltd.
December 29, 2020
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SHINTO Holdings, Inc. (JASDAQ:2776) entered into a share exchange agreement to acquire Dadu Holdings Co., Ltd for approximately ¥ 300 million on December 8, 2020. Under the terms for each share of Dadu Holdings common stock 3.4 million shares of SHINTO Holdings, Inc. will be allotted and delivered. Post completion Dadu Holdings Co., Ltd will become wholly owned subsidiary of SHINTO Holdings, Inc. For the year ended December 31, 2019, Dadu Holdings Co., Ltd reported revenues of ¥ 343 million, net worth of ¥ 206 million, total assets of ¥ 739 million, operating loss of ¥ 6.6 million, net income of ¥ 3.4 million. The Share Exchange will not be approved by SHINTO Holdings, Inc General Meeting of Shareholders but in the Extraordinary General Meeting of Shareholders. The transaction has been approved by the board of directors and shareholders of SHINTO Holdings, Inc on December 8, 2020. The transaction is expected to close on December 30, 2020. Tokyo Financial Advisers Co., Ltd. acted independent third-party to ensure the fairness and appropriateness of the share exchange ratio.
SHINTO Holdings, Inc. (JASDAQ:2776) completed the acquisition of Dadu Holdings Co., Ltd on December 30, 2020. Dadu Holdings Co., Ltd. will be wholly owned subsidiary of SHINTO Holdings, Inc.
SHINTO Holdings, Inc., formerly CRYMSON Co., Ltd., is a Japan-based company mainly engaged in clothing business. The Company operates through three business segments. The Apparel segment is engaged in casual wear planning, production consignment by overseas and domestic manufacturers, and sales operations mainly in wholesale. The main products include T-shirts, trainers and other cut-and-sew products. The Company receives brand licenses from overseas casual wear related companies and sports gear companies. The Company not only use those licenses to their own products, but also provide licenses to companies that manufacture and sell products other than casual wear. The Real Estate-Related Service segment is mainly engaged in the sale and brokerage of real estate properties for the Greater China region and Chinese residents in Japan. The Trading segment sells daily goods and other products in China and Japan.
SHINTO HOLDINGS, INC. 