Sugita Ace Co. Ltd. (JASDAQ:7635) agreed to acquire 80% stake in Mashimo, K.K. from Hiroyuki Mashimo, Toshiko Mashimo, Yuji Mahimo, and Chizuko Mashimo on October 19, 2012. Sugita Ace Co. Ltd. acquired 0.07 million shares of Mashimo, K.K. representing 80% stake. For the period ending October 2011, Mashimo, K.K. reported total assets of ¥852.8 million, net assets of ¥422.3 million, sales of ¥1.5 billion, net loss of ¥0.8 million and operating loss of ¥23.6 million. The transaction has been resolved by Board of Directors of Sugita Ace Co. Ltd. and is expected to complete by November 30, 2012.
Sugita Ace Co. Ltd. (JASDAQ:7635) completed the acquisition of 80% stake in Mashimo, K.K. from Hiroyuki Mashimo, Toshiko Mashimo, Yuji Mahimo, and Chizuko Mashimo on November 30, 2012. Post transaction, Mashimo, K.K.'s name has been changed to Mashimo Ace K.K. Masanori Kubota is appointed as the new President and Representative Director.
SUGITA ACE CO., LTD. is engaged in the sale of construction hardware and construction-related materials. The Company operates in three business segments. The Root segment is engaged in the sales of residential materials and building materials to secondary wholesale stores, hardware stores and construction material stores. The Engineering segment offers residential materials and building materials to construction material stores and sales construction stores, takes into account the added value of design, processing, construction based on the unique know-how. The Direct Needs segment is engaged in the sales of do it yourself (DIY) products, original equipment manufacturer (OEM) related materials and other products for general retailers such as home centers, mail order companies and department stores.
SUGITA ACE CO.,LTD. 
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