Azuma House Co., Ltd. agreed to acquire 70% stake in Chintai Jutaku Kanri K.K., CJC Management Center Co., Ltd. and Aiwa Life Net, K.K. from individuals.
December 17, 2019
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Azuma House Co., Ltd. (JASDAQ:3293) agreed to acquire 70% stake in Chintai Jutaku Kanri K.K., CJC Management Center Co., Ltd. and Aiwa Life Net, K.K. from individuals on December 17, 2019. The transaction includes 140 shares from each company to be acquired from individuals. The transaction would be financed from using cash on hand and borrowing. The financials of Chintai Jutaku Kanri for financial year January 2019 are total assets of approximately ¥ 410 million, net assets of approximately ¥ 310 million, operating income of ¥ 67.8 million and net income of ¥ 47.5 million. The financials of CJC Management Center for financial year September 2019 are total assets of approximately ¥ 430 million, net assets of approximately ¥ 310 million, operating income of ¥ 77.8 million and net income of ¥ 52.4 million. The financials of Aiwa Life Net for financial year May 2019 are total assets of ¥ 1 billion, net assets of approximately ¥ 860 million, operating income of approximately ¥ 140 million and net income of ¥ 98.7 million. The transaction is expected to close on January 31, 2020.
AZUMA HOUSE Co., Ltd. is a real estate company. The Company operates in four business segments. The Real Estate and Construction segment is engaged in sale of land, condominiums, house for sale, sold house, ordered construction, as well as renovation work and real estate brokerage business. The Real Estate Rental segment is engaged in management of real estate rental, real estate intermediation, as well as management of elderly house with services. The Land Utilization segment is engaged in sale of rental house of asset management proposal type and rental house for sale. The Hotel segment operates hotel business and restaurant business.
Azuma House Co., Ltd. agreed to acquire 70% stake in Chintai Jutaku Kanri K.K., CJC Management Center Co., Ltd. and Aiwa Life Net, K.K. from individuals.