Kozosushi Co., LTD. agreed to acquire Daimaru, K.K.
March 23, 2021
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Kozosushi Co., LTD. (JASDAQ:9973) agreed to acquire Daimaru, K.K. on March 23, 2021. In June 2020, Daimaru, K.K. reported a total assets of JPY 317 million, total common equity of JPY 253 million, total revenues of JPY 793 million, EBIT of JPY 15.1 million and net income of JPY 5.9 million. The transaction was approved by the Board of Directors of Kozosushi Co., LTD. and is expected to close on March 31, 2021.
KOZO Holdings Co Ltd, formerly Kozosushi Co Ltd, is a Japan-based company mainly engaged in the retail business, food and beverage business and distribution business. The Company operates in three business segments. The Retail Business segment is divided into retail business and franchise (FC) business. The retail business sells takeaway sushi. The FC business enters into contracts with franchisees based on a franchise system, provides name recognition and credibility through the use of trademarks, and provides guidance on store construction, product manufacturing, product sales and receives royalty income. The Food and Beverage Business segment operates eat-in style restaurants and FC business. The Distribution Business segment is divided into delivery business and food wholesale business. The delivery business sells home delivery of in-house cooked products. The food wholesale business is engaged in wholesale of commercial food ingredients.