SFP Holdings Co., Ltd. signed a contract to acquire Joh Smile Restaurant System Inc. from Hiroyuki Maekawa.
January 23, 2019
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SFP Holdings Co., Ltd. (TSE:3198) signed a contract to acquire Joh Smile Restaurant System Inc. from Hiroyuki Maekawa on January 24, 2019. Under the terms, SFP Holdings will acquire 3600 shares of Joh Smile Restaurant System. Post-acquisition, Joh Smile Restaurant System will become a wholly owned subsidiary of SFP Holdings. For the fiscal year ended March 2018, Joh Smile Restaurant System reported net assets of ¥378.4 million, sales of ¥1.5 billion, operating income of ¥141.98 million and net income of ¥14.2 million. The transaction has been resolved by the Board of Directors of SFP Holdings Co., Ltd at the meeting held on January 24, 2019. The transaction is expected to be completed by March 1, 2019.
SFP Holdings Co., Ltd. is a Japan-based company mainly engaged in restaurants operation. The Company operates through two business segments. The Toriyoshi segment is engaged in the operation of special stores of fried chicken wings, such as Toriyoshi and Toriyoshi Shoten. Isomaru segment is engaged in the sale of fishes and shellfishes. The Company marks Toriyoshi and Isomaru as main business categories, operates Izakaya in directly chain-operated managed system. It operates in Aichi and Fukuoka prefectures with franchise method. It also operates a soba restaurant Nama Soba Tamagawa and a bar GonoGo.