ROYAL HOLDINGS Co., Ltd. entered into a share exchange agreement to acquire remaining 15.1% stake in R&K Food Service Co., Ltd. from Kirin Brewery Company, Limited for approximately ¥450 million.
October 26, 2020
Share
ROYAL HOLDINGS Co., Ltd. (TSE:8179) entered into a share exchange agreement to acquire remaining 15.1% stake in R&K Food Service Co., Ltd. from Kirin Brewery Company, Limited for approximately ¥450 million on October 27, 2020. As per the agreement, ROYAL HOLDINGS Co., Ltd. will issue one share for every 0.021 shares of R&K Food Service Co., Ltd. Post completion, R&K Food Service Co., Ltd will become wholly owned subsidiary of ROYAL HOLDINGS Co., Ltd. For the fiscal year ended December 31, 2019, R&K Food Service Co., Ltd. has reported total assets of ¥2.8 billion, net worth of ¥922 million, sales of ¥10.88 billion, operating loss of ¥208 million and net loss of ¥305 million. The Board of Directors of ROYAL HOLDINGS Co., Ltd. passed the resolution. The extraordinary general meeting of shareholders of R&K Food Service Co., Ltd. is scheduled on November 30, 2020 to approve the transaction and completion is planned on December 16, 2020.
ROYAL HOLDINGS Co., Ltd. is a Japan-based company engaged in the restaurant business, contract business, in-flight meal business, hotel business and food business. The Company has five segments. The Restaurant segment is engaged in the operation of hospitality restaurants Royal Host and other chain restaurants, as well as beer restaurants, cafeterias and other specialty restaurants. The Contract segment is engaged in the provision of dining services for customers in airport terminal buildings, expressway service areas, commercial facilities, office buildings, nursing facilities and others. The In-flight Food segment is engaged in the provision of in-flight meal services for Fukuoka, Tokyo International and other airports. The Hotel segment is engaged in the operation of Richmond Hotel and other business hotels. The Food segment is engaged in the manufacture and sale of food for the restaurant and contract business. The Company is also engaged in the leasing of real estates.
ROYAL HOLDINGS Co., Ltd. entered into a share exchange agreement to acquire remaining 15.1% stake in R&K Food Service Co., Ltd. from Kirin Brewery Company, Limited for approximately ¥450 million.
ROYAL HOLDINGS CO., LTD. 
