Weds Co., Ltd. agreed to acquire remaining 30% stake in Tokyo Sharin Co., Ltd. from Kazuo Funatom, Hiroaki Funato and Michiko Funato.
October 24, 2017
Share
Weds Co., Ltd. (JASDAQ:7551) agreed to acquire remaining 30% stake in Tokyo Sharin Co., Ltd. from Kazuo Funatom, Hiroaki Funato and Michiko Funato on October 25, 2017. Weds Co., Ltd. will acquire 7,200 shares of Tokyo Sharin Co., Ltd. Kazuo Funatom, Hiroaki Funato and Michiko Funato will transfer 5,040 shares amounting to 21% stake, 1,240 shares amounting to 5.2% stake and 920 shares amounting to 3.8% stake respectively. Prior to the transaction, Weds Co., Ltd. held 70% stake and after the transaction, Weds Co., Ltd. will hold 0.02 million shares amounting to 100% stake in Tokyo Sharin Co., Ltd. Upon completion, Tokyo Sharin Co., Ltd. will become wholly owned subsidiary of Weds Co., Ltd.
Tokyo Sharin Co., Ltd. reported net assets of ¥600.42 million and total assets of ¥1.23 billion as at March 31, 2017. Tokyo Sharin Co., Ltd. reported sales of ¥581.59 million, operating income of ¥8.31 million and net income of ¥10.23 million during the year ending March 31, 2017. The share transfer contract is expected to be concluded on January 11, 2018. The transaction is expected to close on January 31, 2018.
WEDS CO., LTD. is a Japan-based company mainly engaged in the wholesale of automotive-related parts. The Company operates in four business segments. The Automobile-related Wholesale segment is engaged in the wholesale of automotive aftermarket parts including automotive wheels and car accessory parts and others to general markets. This segment also manufactures and sells three-piece aluminum wheels, through its subsidiaries. The Automobile-related Retail segment sells automotive aftermarket parts, such as automotive wheels, car accessory parts and others, to general consumers. The Welfare segment is engaged in the welfare business for the elders. The Others segment is engaged in the sale of mobile phones and the leasing of real estate. As of March 31, 2014, the Company had three subsidiaries, one associated company and one affiliated company.
WEDS CO., LTD. 
