Makoto Kanda, President and Representative Director of Re-abroad signed a share transfer agreement to acquire Re-abroad Inc. from Sharingtechnology, Inc. in management buyout transaction.
August 07, 2020
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Makoto Kanda, President and Representative Director of Re-abroad Inc., signed a share transfer agreement to acquire Re-abroad Inc. from Sharingtechnology, Inc. (TSE:3989) in management buyout transaction on August 7, 2020. Under the terms of agreement, 14,060 shares of Re-abroad will be acquired. The Board of Directors of Sharingtechnology passed a resolution on the transaction on August 7, 2020. The transaction is expected to be completed at end of August 2020. A loss of approximately ¥4 million is expected to be posted by Sharingtechnology, Inc. as net loss from the sale in the financial statement ending in September 2020.
SHARINGTECHNOLOGY.INC is a Japan-based company mainly engaged in the Web business and investment business. It operates through two business segments. WEB business is engaged in the provision of solution to life problems through the operation of the portal site Life No.110 and the specialized vertical media site in the life service area. Member stores can provide services suited to the needs of users in the websites. Main services are unlocking and replacing keys, rain and water leakage, remodeling, glass repair, pet funeral, termite extermination, bee extermination, garden maintenance related, and other accidents that occur suddenly in daily life. It is also engaged in the operation of overseas studying service Sumadome, introducing foreign students and providing study abroad procedures. The new system Mover collects the geographical location of each member store staff and realizes matching. The Investment business includes manufacturing, real estate, and private hotel business.
Makoto Kanda, President and Representative Director of Re-abroad signed a share transfer agreement to acquire Re-abroad Inc. from Sharingtechnology, Inc. in management buyout transaction.
SHARINGTECHNOLOGY, INC. 