Jesco Holdings, Inc. concluded a contract to acquire Sugaya Denki Kouji Inc. from a group of sellers.
September 13, 2017
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Jesco Holdings, Inc. (TSE:1434) concluded a contract to acquire Sugaya Denki Kouji Inc. from a group of sellers on September 13, 2017. As per terms, Jesco Holdings, Inc. will acquire 55.27 million shares in first tranche and 20.03 million shares in second tranche. Post completion, Sugaya Denki Kouji Inc. will operate as a wholly owned subsidiary of Jesco Holdings, Inc. For the year ended March 31, 2017, Sugaya Denki Kouji Inc. reported sales of ¥1.1 billion, operating loss of ¥25 million, net loss of ¥37 million, total assets of ¥1.1 billion and net assets of ¥429 million. The Board of Directors of Jesco Holdings, Inc. resolved the deal on September 13, 2017. The first tranche is expected to close on October 2, 2017 while the second tranche is expected to close on September 3, 2018. On October 2, 2018, Sugaya DENKIKOUJI.INC joined the JESCO.
JESCO Holdings, Inc. is a Japan-based company engaged in the domestic engineering, procurement and construction (EPC)business, Association of Southeast Asian Nations (ASEAN) EPC business, and general media business. The Domestic EPC segment and ASEAN EPC segment are engaged in the design, procurement, construction management and maintenance for piping, wiring, equipment installation and other works of commercial facilities, mobile communication base stations and others, in Japan and ASEAN region, respectively. The General Media segment is engaged in the planning, design, content production, installation, operation and maintenance for installation planning of large-scale video equipment such as LED visions in Japan.
JESCO HOLDINGS, INC. 
