Kose R.E. Co., Ltd. cancelled the acquisition of R-Maintenance Co., Ltd. from Nakano Kenchiku Jimusho Co., Ltd. and four individuals.
September 12, 2014 at 09:30 am IST
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Kose R.E. Co., Ltd. (JASDAQ:3246) entered into basic agreement to acquire R-Maintenance Co., Ltd. from Nakano Kenchiku Jimusho Co., Ltd. and four individuals for ¥20 million on September 12, 2013. Kose R.E. Co., Ltd. will acquire 400 shares of R-Maintenance Co., Ltd. Nakano Kenchiku Jimusho Co., Ltd will sell its entire stake comprising 75% stake in R-Maintenance. Kose R.E. Co., Ltd. will operate R-Maintenance Co., Ltd. as its subsidiary. During the year ending November 2012, R-Maintenance Co., Ltd. had net assets of ¥15.57 million, total assets of ¥58.72 million, sales of ¥135.29 million, operating profit of ¥4.64 million, ordinary profit of ¥4.05 million and net profit of ¥4.05 million. Board of Directors made a resolution in favor of the transaction on September 12, 2013. The Board of Directors of Kose R.E. is expected to pass a resolution for the signing of the share transfer agreement in relation to the acquisition on January 31, 2014. The transaction is expected to close on February 1, 2014.
Kose R.E. Co., Ltd. (JASDAQ:3246) cancelled the acquisition of R-Maintenance Co., Ltd. from Nakano Kenchiku Jimusho Co., Ltd. and four individuals on September 12, 2014.
Kose RE Co Ltd is a Japan-based company mainly engaged in the sale of family condominium and asset management type condominium, real estate rental management, and building maintenance business. The Company operates in four business segments. The Family Condominium Sales segment plans, develops and sells the Grand Foret series of condominiums, mainly in the Fukuoka metropolitan area, the Tokyo metropolitan area, and the core cities of each prefecture in Kyushu, and sells detached houses and used family condominiums. The Asset Management Condominium Sales segment plans, develops and sells the Grand Foret series of condominiums in central Fukuoka City, and sells the used asset management type condominiums. The Real Estate Rental Management segment primarily handles the rental management of condominiums, as well as the building rental business. The Building Maintenance segment mainly handles management work, inspection and maintenance for condominiums supplied in Fukuoka metropolitan area.