ICHIHIRO CO.,LTD. completed the acquisition of additional 28.4% stake in T.Kawabe & Co., Ltd..
January 24, 2021
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ICHIHIRO CO.,LTD. made an offer to acquire additional 28.4% stake in T.Kawabe & Co., Ltd. (JASDAQ:8123) for approximately ¥670 million on December 21, 2020. The maximum number of shares to be acquired is 0.52 million and minimum number is 0.43 million. The offer price is ¥1300 per share. The purpose is to make T.Kawabe & Co., Ltd. a consolidated subsidiary and not delist it. The number of shares to be owned by the ICHIHIRO CO.,LTD after the purchase of the 518,500 shares will be 1,004,200 shares, and the ownership ratio will be 55.00% of T.Kawabe & Co., Ltd. Currently ICHIHIRO CO.,LTD. owns 0.49 million shares of T.Kawabe & Co., Ltd. At the time of the Offer, the Tender Offeror entered into an application agreement with ITOCHU Corporation (TSE:8001) that ITOCHU Corporation will sell 0.430 million shares of T.Kawabe & Co., Ltd.
Tender offer period is December 22, 2020 to January 25, 2021. Mizuho Securities Co., Ltd acted as tender offer agent. Shinbo Law Office, acted as legal advisor for T.Kawabe & Co., Ltd.
ICHIHIRO CO.,LTD. completed the acquisition of additional 28.4% stake in T.Kawabe & Co., Ltd. (JASDAQ:8123) on January 25, 2021.
T.KAWABE&CO., LTD. is engaged in the wholesale of personal belongings business such as handkerchiefs, scarves, towels and miscellaneous goods. The Company operates in two business segments. The Personal Items business manufactures, sells, imports and exports handkerchiefs, scarves, mufflers, towels, and textile products. The fragrance business manufactures, sells, and imports and exports perfumes. The Company is also engaged in sale, import and export of upholstery, furniture and bedding; planning and consulting of clothing design and interior decoration; buying, sale and leasing of real estate, as well as manufacture, sale, import and export of cosmetics, perfumes, soaps, pharmaceuticals, and quasi-drugs.
T.KAWABE & CO., LTD. 
