Japan Living Warranty : [delayed]Announcement of the Acquisition of the Fixed Asset (Income Property)
December 28, 2021 at 11:47 am IST
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December 23, 2021
Dear All:
Company name
Japan Living Warranty Inc.
Name of representative
Yoshitaka Adachi
person
Representative director and president
(Code: 7320 TSE Mothers)
Contact
Atsushi Yoshikawa
Director and General Manager of the
Administrative Division
(TEL:03-6276-0401)
Announcement of the Acquisition of the Fixed Asset (Income Property)
Japan Living Warranty Inc. would like to announce that pursuant to the provisions of Article 370 of the Companies Act, the Board of Directors, effective today, adopted a resolution in writing on the acquisition of the fixed asset (income property) as follows.
Notice
1. Reason for the acquisition
The Company has decided to acquire the income property as one of the measures to make appropriate use of its own funds and obtain a stable flow of investment income.
The ownership and continuous management of the income property will have a synergetic effect on the development of comprehensive solutions with respect to the "Total Home Management," the Company's principal business areas of housing equipment warranty, periodic inspections and minor repairs
2.Overview of the fixed asset to be acquired
Location
Name
Land (acreage)
Building
Total floor area
Building year
Structure
Chigusa-ku,
Ferroconcrete structure
Apartment building
199.44 ㎡
762.54 ㎡
February 2004
Flat-roofedseven-story
Nagoya City
building
Acquisition price
Acquisition funds
Transaction
Property delivery
agreement date
date
Own funds &
December 24, 2021
End-January 2022
285 million yen
borrowings from
(plan)
(plan)
financial institutions
3. Overview of the seller
As the seller is an individual, the Company sees it advisable to refrain from disclosing detailed information on it.
There are no particular matters to be noted between the Company and the seller, including capital ties, personal relationships, business relations and related parties.
4. Overview of the borrowing of funds
The Company plans to borrow funds from financial institutions in order to cover part of the funds to acquire the income property.
The amount of borrowings is expected to be less than 30% of the consolidated net assets for the business year ended in June 2021.
5. Outlook
The acquisition of the fixed asset is expected to have only a minor impact on the consolidated financial performance of the Japan Living Warranty Group.
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Disclaimer
Japan Living Warranty Inc. published this content on 28 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 December 2021 06:16:07 UTC.
Japan Living Warranty Inc. is a Japan-based company mainly providing housing integrated after-sales service. The Company operates through two business segments. Total Maintenance Business of the House segment consists mainly of warranty service, inspection repair service, electronic money issuance service. Business Process Outsourcing (BPO) segment supports the construction of extended warranty system of entrustors, mainly residential equipment manufacturers, based on know-how cultivated and affiliation relationship with property insurance companies.