Takuma Co. Ltd. cancelled the acquisition of an additional 1% stake in Takuma Plant Service Co., Ltd. from individual shareholders.
August 09, 2012 at 12:00 am EDT
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Takuma Co. Ltd. (TSE: 6013) entered into a share purchase contract to acquire an additional 1% stake in Takuma Plant Service Co., Ltd. from individual shareholders for ¥3.5 million in stock on August 9, 2011. Takuma Co. Ltd will acquire 600 shares of Takuma Plant Service and will allot 9818 shares of Takuma Co. Ltd at an exchange ratio of 16.53:1. The other 16.5% stake of Takuma Plant Service Co., Ltd is held in the form of treasury shares, which are scheduled to expire. Following the completion of the deal and expiry of treasury shares, Takuma Plant Service Co., Ltd will become wholly owned subsidiary of Takuma Co. Ltd.
Takuma Plant Service Co had net assets of ¥468 million, total assets of ¥1.02 billion, sales of ¥1.47 billion, operating profit of ¥81 million and net income of ¥52 million as of March 31, 2011. The Board of Directors of Takuma Co. Ltd had resolved the deal on August 9, 2011. The deal is expected to close on October 1, 2011. Beach Audit Corporation acted as a third-party institution to secure fairness and validity in calculating share exchange ratio.
Takuma Co. Ltd. (TSE:6013) cancelled the acquisition of an additional 1% stake in Takuma Plant Service Co., Ltd. from individual shareholders on August 9, 2012.
TAKUMA CO., LTD. is a company that is active in four business segments. The Domestic Environment and Energy segment is engaged in the design, construction, sale, operation and maintenance of general waste treatment plants, industrial waste treatment plants, resource recovery plants, sewage disposal plants, sludge incineration plants, biomass electric generation plants and generation gas turbine systems. The Overseas Environment and Energy segment provides waste power generation plants and biomass power generation plants. The Civilian Heat Energy segment offers miniature through-flow boilers and vacuum hot-water supply heaters. The Facilities and Systems segment is involved in the sale and maintenance of building facilities, semiconductor industry-use facilities and clean systems.
TAKUMA CO., LTD. 
