Tokyo Printing Ink Mfg. Co., Ltd. agreed to acquire Arakawa Toryo Kogyo Co., Ltd. from Kazuhiro Sawada.
January 28, 2021
Share
Tokyo Printing Ink Mfg. Co., Ltd. (TSE:4635) agreed to acquire Arakawa Toryo Kogyo Co., Ltd. from Kazuhiro Sawada on November 25, 2020. As on December 21, 2020, share transfer agreement was concluded. Tokyo Printing Ink Mfg. Co., Ltd. has conducted due diligence by a third-party organization, and after mutual consultation and it has calculated and determined a fair and reasonable amount. Post completion, Arakawa Toryo Kogyo Co., Ltd. will operate as a wholly owned subsidiary of Tokyo Printing Ink Mfg. Co., Ltd. For the fiscal year ending February 2020, Arakawa Toryo Kogyo Co., Ltd. reported total assets of ¥1.1 billion and sales of ¥1.3 billion. The Board of Tokyo Printing Ink Mfg. Co., Ltd. passed a resolution for the deal on November 25, 2020. The deal is expected to close on January 29, 2021. The impact of the acquisition of the shares on the full-year consolidated financial results for the fiscal year ending March 2021 is expected to be minor, but Tokyo Printing Ink Mfg. Co., Ltd. will promptly disclose any matters that should be disclosed in the future.
TOKYO PRINTING INK MFG. CO., LTD. is mainly involved in the manufacture and sale of inks and other chemicals. The Company operates in four business divisions. The Ink segment offers offset inks and related products, such as gravure inks and printing materials. The Chemical Product segment provides colorants for synthetic resin, synthetic resin molding materials and others. The Processed Products segment provides various industrial and packaging materials. The Real Estate Rental segment involves in the leasing of warehouses and office buildings in Saitama Prefecture and other areas business.