Chuco Co., Ltd. completed the acquisition of remaining 80.5% stake in L Advertising Co., Ltd. from Hiroshi Shindo and other five individuals.
April 01, 2013 at 09:30 am IST
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Chuco Co., Ltd. (NSE:2139) entered into a basic agreement to acquire remaining 80.5% stake in L Advertising Co., Ltd. from Hiroshi Shindo and other five individuals on January 31, 2013. Chuco agreed to acquire remaining 161 shares of L Advertising. L Advertising reported total assets of ¥50.99 million, net assets of ¥15.03 million, sales of ¥303.34 million, operating profit of ¥0.91 million and net income of ¥0.65 million for the period ending August 31, 2012. The Board of Directors of Chuco has resolved to undertake the transaction on January 31, 2013 and the transaction is expected to close in early April 2013.
Chuco Co., Ltd. (NSE:2139) completed the acquisition of remaining 80.5% stake in L Advertising Co., Ltd. from Hiroshi Shindo and other five individuals on April 1, 2013. Chuco Co., Ltd. (NSE:2139) signed a share transfer agreement to acquire remaining 80.5% stake in L Advertising Co., Ltd. from Hiroshi Shindo and other five individuals on April 1, 2013.
Chuco Co Ltd is a Japan-based company mainly engaged in the publication and operation of the free magazine Happy Media, as well as sales promotion including advertising agency and the planning and operation of sales promotion measures. The Media Advertising segment mainly consists of paper media such as Chiiki Mitchaku Seikatsu Johoshi, Start! and others, and Internet media such as application Furimo, job information site Machi JOB, and Website Free Mall. The segment provides promotions including wide-area sales and joint distribution of various media, advertisements on media, the planning, production, and sales of sales promotion tools, the sales, and crowdfunding of digital transformation (DX) products, and others. The main products are local free magazines that consists of the latest current events, feature articles and advertising information. It also operates advertising business that develops advertising strategies, plans, and sales promotion plans, and online mail order sales.