Liv-up Co.,Ltd. completed the acquisition of FOOTWORK Co.,Ltd.
July 07, 2022
Share
Liv-up Co.,Ltd. (TSE:2977) agreed to acquire FOOTWORK Co.,Ltd. on June 30, 2022. Upon completion of the transaction, FOOTWORK will become as a wholly owned subsidiary of Liv-up Co. All acquisitions of the shares will be carried out with own funds. The FOOTWORK had net assets of ¥195 million, total assets of ¥268 million, sales of ¥176 million, operating profit of ¥-69 million and net profit of ¥-64 million, for the fiscal year ended September 2021. The transaction is subject to financial, tax, legal and labor due diligence conducted by an external organization. The transaction is expected to close on July 8, 2022. The impact of acquisition on consolidated business results is expected to be minor at this point.
Liv-up Co.,Ltd. (TSE:2977) completed the acquisition of FOOTWORK Co.,Ltd. on July 8, 2022.
Livenup Group Co Ltd, formerly known as Liv-up Co Ltd, is a Japan-based company engaged in the real estate development and sale business. The main businesses are residential real estate business and income real estate business. The residential real estate business engages in the sale of detached houses and detached house land (residential land), including overall planning, building planning and design, construction supervision, sale, and after-sales maintenance of single-family homes, as well as the resale business. The income real estate business is engaged in the development and sale of apartments and the acquisition and resale of used income properties. The Company develops apartments as income-generating real estate and sells them to customers with investment purposes who collect rent from tenants. The Company also engages in rental sales and brokerage commission income collected from tenants, as well as rental management business.