Sugita Ace Co.,Ltd. completed the acquisition of Yonemitsu Sangyo Co., Ltd. from Nobuo Yonemitsu and Chikako Yonemitsu.
July 01, 2013 at 09:30 am IST
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Sugita Ace Co.,Ltd. (JASDAQ:7635) entered into an agreement to acquire Yonemitsu Sangyo Co., Ltd. from Nobuo Yonemitsu and Chikako Yonemitsu on May 14, 2013. Sugita Ace Co.,Ltd. will acquire 100 shares of Yonemitsu Sangyo in the transaction. Yonemitsu Sangyo had net assets of ¥133.4 million, total assets of ¥354.98 million, sales of ¥619.81 million, operating loss of ¥1.59 million, current profit of ¥3.92 million and net income of ¥2.45 million for the year ended September 2012. The transaction was resolved by the Board of Directors of Sugita Ace Co.,Ltd. on May 14, 2013. The acquisition is expected to be completed on July 1, 2013.
Sugita Ace Co.,Ltd. (JASDAQ:7635) completed the acquisition of Yonemitsu Sangyo Co., Ltd. from Nobuo Yonemitsu and Chikako Yonemitsu on July 1, 2013. Post transaction, Yonemitsu Sangyo name changed to Yonemitsu Ace Co., Ltd.
SUGITA ACE CO., LTD. is engaged in the sale of construction hardware and construction-related materials. The Company operates in three business segments. The Root segment is engaged in the sales of residential materials and building materials to secondary wholesale stores, hardware stores and construction material stores. The Engineering segment offers residential materials and building materials to construction material stores and sales construction stores, takes into account the added value of design, processing, construction based on the unique know-how. The Direct Needs segment is engaged in the sales of do it yourself (DIY) products, original equipment manufacturer (OEM) related materials and other products for general retailers such as home centers, mail order companies and department stores.
SUGITA ACE CO.,LTD. 
