Kuze Co., Ltd. cancelled the acquisition of additional 51% stake in Shanghai Nissei Foods Distribution Co., Ltd. from Golden Foods Co., Ltd.
October 05, 2018
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Kuze Co., Ltd. (JASDAQ:2708) signed a contract to acquire additional 51% stake in Shanghai Nissei Foods Distribution Co., Ltd. from Golden Foods Co., Ltd. on October 6, 2017. Upon completion, Shanghai Nissei Foods Distribution Co., Ltd. will become subsidiary of Kuze Co., Ltd. and will own 82.1% stake in Shanghai Nissei Foods Distribution Co., Ltd. For the year ended December 31, 2016, Shanghai Nissei Foods Distribution Co., Ltd. reported revenue of CNY 99 million. The Board of Kuze Co., Ltd. resolved the transaction. The transaction is expected to be completed by December 26, 2017.
Kuze Co., Ltd. (JASDAQ:2708) cancelled the acquisition of additional 51% stake in Shanghai Nissei Foods Distribution Co., Ltd. from Golden Foods Co., Ltd. on October 6, 2018.
KUZE CO., LTD. is a Japan-based company mainly engaged in the wholesale of food and related materials. The Company operates in three business segments. The Food Wholesale segment is engaged in the sale of foodstuffs and materials such as frozen food for business use, refrigerated food, fresh food to the food service industry. The Food Manufacturing segment manufactures and sells commercial soups, sauces and bouillon products. The Real Estate Leasing segment is engaged in the leasing of real estate properties.
KUZE CO., LTD. 
