Sundrug Co., Ltd. cancelled the acquisition of Sundrug Tokai Co., Ltd. from Tomoyoshi Sakurai.
August 29, 2012 at 12:00 am EDT
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Sundrug Co., Ltd. (TSE:9989) entered into basic agreement to acquire Sundrug Tokai Co., Ltd. from Tomoyoshi Sakurai on August 29, 2011. Sundrug Co., Ltd. will acquire 200 shares of Sundrug Tokai Co., Ltd. and operate it as a subsidiary. For the year ended March 2011, Sundrug Tokai Co., Ltd. had sales of ¥8.52 billion, operating profit of ¥81 million, current profit of ¥81 million, net income of ¥42 million, total assets of ¥1.56 billion, and net assets of ¥138 million. Board of Directors of Sundrug Co., Ltd. resolved the transaction on August 29, 2011. The conclusion of the share transfer contract and date of the transfer is October 1, 2011.
Sundrug Co., Ltd. (TSE:9989) cancelled the acquisition of Sundrug Tokai Co., Ltd. from Tomoyoshi Sakurai on August 29, 2012.
SUNDRUG CO., LTD. is a Japan-based company operating in two business segments. The Drug Store segment is primarily engaged in the sale of pharmaceutical products, cosmetic products and sundry goods, among others. The Discount Store segment is primarily engaged in the sale of foodstuffs, household sundry goods, among others.
SUNDRUG CO.,LTD. 
