Harvest Premier Investment Corporation cancelled the acquisition of 49% stake in Gokurakuyu China Holdings Limited from Gokurakuyu Co., Ltd..
July 30, 2015 at 09:30 am IST
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Harvest Premier Investment Corporation agreed to acquire 49% stake in Gokurakuyu China Holdings Limited from Gokurakuyu Co., Ltd. (JASDAQ:2340) for approximately ¥930 million on July 30, 2014. Conclusion of the share transfer contract is expected to be in late August 2014. After the transaction, Gokurakuyu will hold 51% stake in Gokurakuyu China Holdings. The Board of Directors of Gokurakuyu Co., Ltd. passed a resolution for the transaction on July 30, 2014. The transaction is expected to be closed by early September 2014.
Harvest Premier Investment Corporation cancelled the acquisition of 49% stake in Gokurakuyu China Holdings Limited from Gokurakuyu Co., Ltd. (JASDAQ:2340) on July 30, 2015.
GOKURAKUYU HOLDINGS CO., LTD. is a Japan-based company mainly engaged in the hot bath business. The Company operates through two regional segments. The Company is mainly engaged in the operation of large-scale hot bath facilities (super public baths) in Japan and overseas under the names GOKURAKUYU and RAKU SPA. The directly operated stores receive entrance fee income, food and beverage income, hairdressing income and merchandise sales income. The franchise stores receive merchandise sales income and royalty income related to super public bath management based on membership contracts. The Company is also engaged in the operation of soba and tempurameshi stores Kojimachi Baraku in Japan, as well as the operation of hotels in overseas.
GOKURAKUYU HOLDINGS CO., LTD. 
