Beauty Kadan Co., Ltd. completed the acquisition of Hanadoki Co., Ltd. from Hitoshi Jahana, President and Representative Director of Hanadoki.
April 01, 2013 at 09:30 am IST
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Beauty Kadan Co., Ltd. (TSE:3041) signed a share exchange contract to acquire Hanadoki Co., Ltd. from Hitoshi Jahana, President and Representative Director of Hanadoki for ¥46.3 million in stock on March 8, 2013. Beauty Kadan will issue 31 shares of its common stock for each share of Hanadoki. Pursuant to the transaction, Hanadoki will operate as a wholly-owned subsidiary of Beauty Kadan. Hanadoki Co., Ltd. reported net assets of ¥23 million, total assets of ¥99 million, sales of ¥288 million, operating profit of ¥7 million and net income of ¥4 million for the year ended March 31, 2012.
The transaction is subject to approval by the shareholders of Hanadoki at a meeting to be held on March 29, 2013 and it has been approved by the Board of Directors of Beauty Kadan on March 8, 2013. The transaction is not subject to approval of shareholders of Beauty Kadan. The Board of Directors of Hanadoki has resolved to undertake the transaction and it is expected to close on April 1, 2013. Stream Tax Corporation has been appointed as valuation institute for the calculation of share exchange ratio.
Beauty Kadan Co., Ltd. (TSE:3041) completed the acquisition of Hanadoki Co., Ltd. from Hitoshi Jahana, President and Representative Director of Hanadoki on April 1, 2013.
Beauty Kadan Holdings Co Ltd, formerly Beauty Kadan Co Ltd, is mainly engaged in flower arrangements business for ceremonial occasions. The Company operates in three business segments. The Ikebana Altar segment is engaged in the production and sale of funeral-related products to funeral-related companies, including funeral services such as flower arrangement altars and offerings. The Ikebana Wholesale segment is engaged in the purchase of products suitable for customer needs, as well as the sale of flowers to funeral-related corporate customers and flower shops. The Bridal Flower Arranging segment is engaged in the production and sale of products for weddings, such as table flowers and bouquets. The Company is also engaged in system development business that sells, commissions, designs, and manufactures various systems, and funeral consulting business provides plan and consulting services for ceremonial occasions, as well as employment continuation support and agriculture business.
BEAUTY KADAN HOLDINGS CO., LTD. 
