Sangetsu Corporation completed the acquisition of 51% stake in Wavelock Interior Co.,Ltd. from Wavelock Holdings Co., Ltd..
March 30, 2021
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Sangetsu Corporation (TSE:8130) entered into an agreement to acquire 51% stake in Wavelock Interior Co.,Ltd. from Wavelock Holdings Co., Ltd. (TSE:7940) for ¥ 2.4 billion on February 10, 2021. Under the terms, 0.01 million shares will be acquired and Sangetsu will also pay the debt which Wavelock Interior owed to Wavelock Holdings. Post the completion of the transaction, Wavelock Interior will cease to operate as a consolidated subsidiary of Wavelock Holdings. Wavelock Holdings will hold 9800 shares in Wavelock Interior post the completion of the transaction. As of March 2020, Wavelock Interior reported net assets of CNY 1.8 billion, total assets of CNY 6.7 billion, sales of CNY 9.7 billion, operating income of CNY 923 million. The transaction is expected to close on March 31, 2021.
Sangetsu Corporation (TSE:8130) completed the acquisition of 51% stake in Wavelock Interior Co.,Ltd. from Wavelock Holdings Co., Ltd. (TSE:7940) in March 2021.
WAVELOCK HOLDINGS CO., LTD. is a Japan-based holding company mainly engaged in the manufacture and sale of composite materials made from plastic, fiber and paper. The Company operates through four business segments. Interior segment is involved in the manufacture and sale of wallpaper products, as well as the sale of related products. Weaving segment is involved in the manufacture of net products made of synthetic fibers, as well ae the sale of insect-proof nets for general houses, insect-proof nets for rehabilitation, agricultural material nets, civil engineering materials and construction temporary materials. Advanced Technology segment is involved in the sale of metal decorative films, glitter tapes, special printing, functional films and sheets and opening tapes. Industrial Materials and Packaging Materials segment is involved in the sale of films and plastic sheets including construction temporary materials, agricultural materials, food packaging materials.
WAVELOCK HOLDINGS CO., LTD. 
