Daiwa Musen Denki Co., Ltd. announced that it has received ¥250 million in funding from Denkyosha Co.,Ltd.
April 01, 2013 at 09:30 am IST
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Daiwa Musen Denki Co., Ltd. announced that it will receive ¥250,000,000 in funding from existing investor, Denkyosha Co.,Ltd. on March 19, 2013. The company will issue 25,000 common shares at ¥10,000 per share in the transaction. The investor will continue to hold 100% stake in the company. The company has received board approval for the transaction. The capital of the company will increase from ¥87,160,000 to ¥337,160,000. The settlement date is April 1, 2013.
On April 1, 2013, Daiwa Musen Denki Co., Ltd. closed the transaction.
Denkyo Group Holdings Co Ltd is a Japan-based company mainly engaged in the wholesale of electrical goods and household goods. The Company operates through two business segments. The Electric Goods Wholesale Business segment is engaged in the sale of electrical products purchased from makers to retailers including the electronics retail stores, home centers and general merchandise stores. The segment is also engaged in the planning and manufacture of home appliances overseas, as well as the sale of products to domestic wholesalers and retailers. The Household Goods Wholesale Business segment is involved in the sale of household products to retailers including the electronics retail stores, home centers and general merchandise stores. The Company is also engaged in the electronic components sales business, home appliances repair and logistics delivery business, electrical-related systemization business and real estate management business.