Konomiya Co., Ltd. agreed to acquire 92.8% stake in Toho Store Co., Ltd from Toho Co., Ltd..
October 30, 2022
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Konomiya Co., Ltd. agreed to acquire 92.8% stake in Toho Store Co., Ltd from Toho Co., Ltd. (TSE:8142) on October 31, 2022. Konomiya Co., Ltd. will acquire 0.07 million shares in Toho Store Co., Ltd. Toho Store Co., Ltd reported a Net loss of ¥544 million in January 2022. The transaction is expected to complete on after February 2023 and before End of March 2023. As of January 27, 2023, transaction is expected to close between March 2023 to the end of April 2023. As of April 28, 2023, transaction is expected to close between April 2023 to the end of May 2023.
Toho Co Ltd is a Japan-based company mainly sells all types of food, from commercial food to household food to users. The Company operates through four segments. The Distributor segment purchases food ingredients for the food service industry and delivers and sells them to the food service industry. The Cash and Carry segment is engaged in the purchase of ingredients for the food service industry, and the cash sale of commercial food to small and medium-sized restaurant operators. The Food Supermarket segment purchases food, and operates food supermarkets. The Food Solutions segment is engaged in application service provider (ASP), quality control services, general construction contracting, manufacture and sale of commercial cooking equipment, interior design and construction of restaurants. The Company is also engaged in the production and sale of agricultural products, wholesale of fresh produce to the food service industry, and software development and maintenance.