The Pack Corporation agreed to acquire 80% stake in Nishinihon Printing Co., Ltd. from a group of shareholders.
For the year ended March 2013, Nishinihon Printing has net assets of ¥1.63 billion, total assets of ¥1.99 billion, sales of ¥1.67 billion, operating loss of ¥52 million and net loss of ¥58 million. The Board of The Pack Corp resolved the deal on March 31, 2014. The share transfer contract is expected to be signed on April 1, 2014. The Pack Corporation (TSE:3950) signed an agreement to acquire 80% stake in Nishinihon Printing Co., Ltd. from a group of shareholders on April 1, 2014. In the period between April 1, 2014 to May 7, 2014, 39,600 shares has been acquired for ¥59 million. Pack Corporation has 44% stake after acquisition. The deal is expected to complete by May 15, 2014.