Japan Living Warranty : Announcement of the Acquisition of the Fixed Assets (Income Property)
April 07, 2022 at 02:13 am EDT
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April 07, 2022
Dear All:
Company name Name of representative personJapan Living Warranty Inc. Yoshitaka Adachi
Representative director and president
(Code: 7320 TSE Growth) Atsushi Yoshikawa
Contact
Director and General Manager of the Administrative Division
(TEL:03-6276-0401)
Announcement of the Acquisition of the Fixed Assets (Income Property)
Japan Living Warranty Inc. would like to announce that pursuant to the provisions of Article 370 of the Companies Act, the Board of Directors, effective today, adopted a resolution in writing on the acquisition of the fixed assets (income property) as follows.
Notice
1. Reason for the acquisition
The Company has decided to acquire the income property as one of the measures to make appropriate use of its own funds and obtain a stable flow of investment income.
The ownership and continuous management of the income property will have a synergetic effect on the development of comprehensive solutions with respect to the "Total Home Management," the Company's principal business areas of housing equipment warranty, periodic inspections and minor repairs
2.Overview of the fixed assets to be acquired
(1)Fukuoka
Location
Name
Land (acreage)
Building
Total floor area
Building year
Structure
Minami-ku, Fukuoka
Apartment building
330.57㎡
799.06㎡
Sep. 2022(plan)
Ferroconcrete structure 5-story floor
Acquisition priceAcquisition fundsTransaction agreement date
Property delivery date
385million yenOwn funds& borrowings from financial institution
Apr. 15,2022
End-Sep. 2022
(plan)
(plan)
(2)Sapporo
Location
Name
Land (acreage)
Building
Total floor area
Building year
Structure
Chuo-ku, Sapporo
Apartment building
375.60㎡
1,159.38㎡
Mar. 2011
Ferroconcrete structure
Flat-roofed 9-story floor
Transaction
Acquisition price Acquisition funds agreement date
Property delivery date
335million yenOwn funds& borrowings from financial institution
End-Apr. 2022
July. 2022
(plan)
(plan)
3. Overview of the seller
Due to contractual confidentiality obligations and other reasons, we have refrained from disclosing a summary of the counterparties (domestic corporations) in each case.
There are no capital, personal, or business relationships between the Company and the counterparties, nor are there any matters requiring special mention as related parties.
4. Overview of the borrowing of funds
The Company plans to borrow funds from financial institutions in order to cover part of the funds to acquire the each income properties.
The amount of borrowings is expected to be less than 30% of the consolidated net assets for the business year ended in June 2021.
5. Outlook
The acquisition of such fixed assets will not have a material impact on the Group's consolidated financial results for the fiscal year ending June 30, 2022, as the proceeds will not be realized until July 2022 or later.
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Japan Living Warranty Inc. published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2022 06:12:15 UTC.
Japan Living Warranty Inc. is a Japan-based company mainly providing housing integrated after-sales service. The Company operates through two business segments. Total Maintenance Business of the House segment consists mainly of warranty service, inspection repair service, electronic money issuance service. Business Process Outsourcing (BPO) segment supports the construction of extended warranty system of entrustors, mainly residential equipment manufacturers, based on know-how cultivated and affiliation relationship with property insurance companies.