Capital Intelligence Technology Ltd. cancelled the acquisition of 50% stake in Newart Technology Co., Ltd. from New Art Co., Ltd..
December 14, 2019
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Capital Intelligence Technology Ltd. concluded a contract to acquire 50% stake in Newart Technology Co., Ltd. from New Art Co., Ltd. (JASDAQ:7638) for ¥0.1 million on December 14, 2018. Under the transaction, Capital Intelligence acquires 1,000 shares representing 50% stake. Post transfer, New Art Co., Ltd will not hold any stake in Newart Technology. During the financial year ended March 2018, Newart Technology reported net liabilities of ¥192.4 million, total assets of ¥100 million, operating loss of ¥139 million, revenue of ¥111.2 million and net loss of ¥141.5 million. The transaction has been resolved by the Board of Directors of New Art Co., Ltd. The transaction is expected to be completed on December 17, 2018.
Capital Intelligence Technology Ltd. cancelled the acquisition of 50% stake in Newart Technology Co., Ltd. from New Art Co., Ltd. (JASDAQ:7638) on December 14, 2019.
New Art Holdings Co Ltd is a Japan-based company mainly engaged in the manufacture and sale of bridal jewelry (engagement rings and wedding rings), the operation of aesthetic salons, the planning and operation of auctions, and the sale of works of art. The Company operates in three business segments. The Jewelry Art Auction segment includes the manufacture and sale of bridal jewelry through the management of GINZA DIAMOND SHIRAISHI and EXELCO DIAMOND, the provision of bridal-related services, the purchase and wholesale of diamond loose (naked stone), the sale of art, the planning and operation of art auctions. The Health and Beauty segment operates the beauty salon La PARLER and manufactures and sells cosmetics and health foods. The Other businesses segment includes credit card business, manufacture and sale of golf equipment, development and manufacture of related sporting goods, and operation and resort business of hotels and wedding halls.
NEW ART HOLDINGS CO., LTD. 
