Landmark Investment Co.,Ltd. cancelled the acquisition of 80% stake in CardFlex Japan, Inc. from Tay Two Co., Ltd..
April 10, 2015 at 09:30 am IST
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Landmark Investment Co.,Ltd. signed a basic agreement to acquire 80% stake in CardFlex Japan, Inc. from Tay Two Co., Ltd. (JASDAQ:7610) on February 27, 2015. Under the terms of the deal, 2720 shares will be acquired. For the period ended May 2014, CardFlex Japan had net assets of ¥224 million, total assets of ¥294 million, nil sales, operating loss of ¥82 million and net loss of ¥83 million. The transaction was resolved by Board of Directors of Tay Two Co. The expected share transfer contract conclusion and share transfer execution date is March 31, 2015. As on April 1, 2015, the conclusion of the share transfer contract and the share transfer is expected soon.
Landmark Investment Co.,Ltd. cancelled the acquisition of 80% stake in CardFlex Japan, Inc. from Tay Two Co., Ltd. (JASDAQ:7610) on April 10, 2015. Tay Two Co., Ltd. entered several consultations concerning the conclusion of the share transfer contract and share transfer execution, but was not able to reach an agreement on the results of consultations, examinations and conditions of the transfer. Thus, basic agreement concerning the share transfer was exited.
TAY TWO CO., LTD. is a Japan-based company primarily engaged in the multi-package sales business. The Company is engaged in the operation of Furuhon Ichiba stores, the franchise business of Furuhon Ichiba stores, as well as the operation of Trecapark stores, Book Square stores, TSUTAYA stores, MO-ZEAL stores and other stores. The Company also operates Furuhon Ichiba stores as a franchisee through affiliated companies.
TAY TWO CO., LTD. 
