Yamano Holdings Corporation completed the acquisition of MAN TO MAN ACADEMY CO., LTD. from Kazunori Ito.
March 02, 2020
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Yamano Holdings Corporation (JASDAQ:7571) agreed to acquire MAN TO MAN ACADEMY CO., LTD. from Kazunori Ito for ¥470 million on December 20, 2019. Yamano Holdings Corporation entered into an agreement to acquire MAN TO MAN ACADEMY CO., LTD. from Kazunori Ito on December 23, 2019. Yamano Holdings Corporation will acquire 200 shares of MAN TO MAN ACADEMY CO., LTD. For the year ended June 2019, MAN TO MAN ACADEMY CO., LTD. reported net assets of ¥737 million, total assets of ¥ 865 million, sales of ¥618 million, operating profit of ¥36 million and net income of ¥47 million. The transaction is expected to complete on March 2, 2020. The impact of this matter on consolidated business results for the current fiscal year is expected to be minor. The advisory fee of approximately ¥23 million will also be paid.
Yamano Holdings Corporation (JASDAQ:7571) completed the acquisition of MAN TO MAN ACADEMY CO., LTD. from Kazunori Ito on March 2, 2020. Post completion, MAN TO MAN ACADEMY will operate as a wholly owned subsidiary of Yamano Holdings. Along with this, Yamano Holdings recorded a gain on negative goodwill as extraordinary income. In the consolidated financial statements for the year ended March 31, 2020, Yamano Holdings recorded a gain on negative goodwill of ¥98 million as extraordinary income.
YAMANO HOLDINGS CORPORATION is engaged in the distribution and manufacture related to beauty. The Company operates in three segments. The Beauty segment is engaged in the management of beauty salons and nail salons. The Kimono Jewelry segment is engaged in the operation of clothing specialty stores in nationwide and sale of Japanese clothing through kimono related division, as well as the operation of jewelry store chains mainly in the Kanto region and sale of jewelry and accessories through jewelry-related division. The main products include kimono, diamond rings, fashion rings, necklaces, watches and fur. The DSM segment is engaged in the sale of various home appliances, clothing, jewelry, health-related products, and more. The main products include sewing machines, coats, suits, bags, fashion rings and necklaces. The other business involves prepaid special transaction business, dissemination and verification of kimono dressing, and financial business.
YAMANO HOLDINGS CORPORATION 
