Proto Corporation completed the acquisition of Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. from Adventure Inc..
April 31, 2022
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Proto Corporation (TSE:4298) signed contract to acquire Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. from Adventure Inc. (TSE:6030) for ¥1.5 billion on March 25, 2022. As per the transaction, Proto Corporation will acquire 600 and 200 shares of Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. for ¥1.44 billion and ¥50 million respectively. Proto Corporation shall also pay advisory fee of ¥69 million and ¥2 million for Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. respectively. Post completion, Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. will become wholly owned subsidiaries of Proto Corporation. The transaction will be funded through own funds.
The Board of Directors has passed the resolution for the transaction. Completion is planned on April 1, 2022.
Proto Corporation (TSE:4298) completed the acquisition of Cosmic Ryutuu Sangyou LTD. and Cosmic GC System Inc. from Adventure Inc. (TSE:6030) on April 1, 2022.
Adventure Inc is a Japan-based company mainly engaged in consumer business to sell products and provide services to individuals and companies as well as investment business to invest in businesses and companies that can expect capital returns. The Company operates in two segments. The Consumer segment involves in the provision of travel goods and services, sales of tickets and sports apparel etc. The Investment segment involves in the investment to businesses or companies which has good potential and can expect capital returns.