Medius Holdings Co., Ltd. cancelled the acquisition of 19.75% stake in Akita Ika Kikaiten, K.K.
March 21, 2014 at 09:30 am IST
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Medius Holdings Co., Ltd. (JASDAQ:3154) entered into share exchange to acquire 19.75% stake in Akita Ika Kikaiten, K.K. for approximately ¥140 million in stock on March 21, 2013. Medius Holdings Co., Ltd. will issue 72 treasury shares for each share of Akita Ika Kikaiten. Medius Holdings Co., Ltd. will acquire 790 shares of Akita Ika Kikaiten and will issue 0.06 million shares as consideration. In a related transaction, Medius Holdings Co., Ltd. will acquire 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders.
Medius Holdings Co., Ltd. will operate Akita Ika Kikaiten, K.K. as wholly owned subsidiary after completion of both the transaction. For the year ended March 2012, Akita Ika Kikaiten had net assets of ¥346 million, total assets of ¥1.43 billion, sales of ¥3.77 billion, operating profit of ¥36 million, current profit of ¥45 million, and net income of ¥31 million. Board of Directors of Medius Holdings resolved the acquisition on March 21, 2013. The tentative date for approval of the share exchange by the shareholding commission of Akita Ika is May 23, 2013. As of July 1, 2013, Medius Holdings allocated consideration shares to shareholders of Akita Ika Kikaiten. The transaction is expected to close on July 2, 2013. TY Consulting Co., Ltd. acted as appraiser for Medius Holdings.
Medius Holdings Co., Ltd. (JASDAQ:3154) cancelled the acquisition of 19.75% stake in Akita Ika Kikaiten, K.K. on March 21, 2014.
MEDIUS HOLDINGS Co., Ltd. is a Japan-based company mainly engaged in the sale and maintenance of medical equipment, as well as the sale and rental of nursing care equipment. The Company operates through two business segments. The Medical Equipment Sales segment sells medical equipment to domestic healthcare facilities, such as hospitals. The Care and Welfare business segment is engaged in sales and rental of nursing care equipment purchased from Japanese nursing and welfare equipment manufacturers, agents, trading companies, to medical institutions such as domestic hospitals and general individuals. In addition, the Company is also engaged in sales of nursing care and welfare equipment purchased from domestic and foreign manufacturers to medical institutions such as hospitals and medical material dealers.