Nissin Sugar Co., Ltd. signed a contract to acquire sugar business from Oji Sugar Co., Ltd. for approximately ¥690 million.
August 14, 2019
Share
Nissin Sugar Co., Ltd. (TSE:2117) signed a contract to acquire sugar business from Oji Sugar Co., Ltd. for approximately ¥690 million on August 14, 2019. For the fiscal year ending March 2019, sugar business reported net sales of ¥1.2 billion and operating income of ¥49 million. Sugar business reported total assets of ¥83 million. As on August 14, 2019, the Board of Directors of Nissin Sugar Co., Ltd. passed a resolution for the deal. The scheduled implementation date of the deal is October 1, 2019.
Wellneo Sugar Co Ltd, former Nissin Sugar Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of sugar. The Company operates in three business segments. The Sugar and Other Foods segment is engaged in the manufacture and sale of sugar and the sale of sweeteners and other food products. This segment is also engaged in the manufacture and sale of foil stamping on food packages, edible pure gold leaf, and water-soluble edible film. The Health Industry segment is mainly engaged in the operation of the comprehensive fitness club named Do Sports Plaza, Sports Club Entertainment A-1, hot yoga and collagen studio exclusively for women named BLEDA, and the compact gym DO SMART and A-1 EXPRESS, A-1 Light GYM 24. The Warehouse Business segment mainly owns refrigerated warehouses and engages in storage, cargo handling, and port transportation operations.
WELLNEO SUGAR CO., LTD. 
