Culture Convenience Club Co., Ltd. cancelled the acquisition of an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd..
August 22, 2014 at 12:00 am EDT
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Culture Convenience Club Co., Ltd. signed a contract to acquire an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd. (TSE:7640) on August 22, 2013. Culture Convenience Club Co., Ltd. will acquire 1750 shares of Tsutaya Stationery Network Co., Ltd. representing 35% stake and post transaction Culture Convenience Club Co., Ltd. will hold 86% stake in Tsutaya Stationery Network Co., Ltd. The Board of Directors of Top Culture Co., Ltd. passed a resolution for the transaction on August 22, 2013 and the transaction is expected to close by August 30, 2013.
Culture Convenience Club Co., Ltd. cancelled the acquisition of an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd. (TSE:7640) on August 22, 2014.
TOP CULTURE Co., Ltd. is a company mainly engaged in the operation of retail business. The Company operates in four business segments. The Tsutaya Bookstore segment is mainly involved in the operation of large-scale complex stores under the name Tsutaya Bookstore which primarily engages in the sale of books, stationery, compact discs (CDs) and digital versatile discs (DVDs), as well as the rental of CDs and DVDs. The Sports-related segment includes soccer clubs and soccer schools, as well as planning and management of sports facilities. The Home Visit Nursing segment operates a home-visit nursing station for the brain and heart, and conducts home-visit nursing business focusing on mental illness and dementia. The Others segment engages in sale of used books, music and video software, game consoles and game software, as well as operation of Top Books in Used Books stores.
Culture Convenience Club Co., Ltd. cancelled the acquisition of an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd..
TOP CULTURE CO.,LTD. 
