IDEA International Co., Ltd. completed the acquisition of Nihon Relent Keshohin Co., Ltd. from Kenkou Corporation, Inc..
February 01, 2014 at 09:30 am IST
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IDEA International Co., Ltd. (JASDAQ:3140) entered into contract to acquire Nihon Relent Keshohin Co., Ltd. from Kenkou Corporation, Inc. (SPSE:2928) for approximately ¥230 million in stock on November 14, 2013. IDEA International Co., Ltd. will issue 2,445 shares for each share of Nihon Relent Keshohin Co., Ltd. and will issue total of 0.49 million shares. The tentative shareholders' meeting date is November 30, 2013. Nihon Relent Keshohin Co., Ltd. will be merged into IDEA International. During the year ended March 2013, Nihon Relent Keshohin Co had net assets of ¥1.8 billion, total assets of ¥1.88 billion, sales of ¥442 million, operating profit of ¥59 million, current profit of ¥61 million, and net income of ¥9 million.
Board of Directors of IDEA International Co., Ltd. made a resolution in favor of the transaction on November 14, 2013. The transaction is expected to close on February 1, 2014. Nijubashi Partners acted as legal advisor to IDEA International Co., Ltd.
IDEA International Co., Ltd. (JASDAQ:3140) completed the acquisition of Nihon Relent Keshohin Co., Ltd. from Kenkou Corporation, Inc. (SPSE:2928) on February 1, 2014.
Bruno Inc, formerly Idea International Co Ltd, plans, develops, and sells original products related to living-related lifestyle products such as interior goods, travel goods, and cosmetics, sells select brand products and others. For original brand products, the Company plans and develops products in collaboration with designers, and for select brand products, the Company purchases products from domestic and overseas brand holders. Sales channels mainly include wholesale to specialty stores such as interior shops, sales to corporations that carry out sales promotion, sales through distributors, retail by directly managed stores, and Internet sales through in-house electronic commerce sites. The directly managed stores provides products in five styles.
BRUNO,INC. 
