TOKYO, May 19 (Pulse News Wire) – Asanuma Corporation (1852.T) announced today that its board of directors has approved the acquisition of T3 International Pte. Ltd., based in Singapore, to strengthen its renovation business in the ASEAN region.
The acquisition, which involves purchasing shares worth approximately ¥331 million, aligns with the company's three-year plan focusing on enhancing renovation activities in Southeast Asia. According to the disclosure, T3 International Pte. Ltd. specializes in building exterior and interior painting services. The company was established on October 22, 2002, and had revenues of ¥1.698 billion, operating profit of ¥302 million, and net income of ¥275 million in the latest fiscal year.
Asanuma Corporation plans to acquire the entire shareholding in two phases, with the first phase scheduled for mid-June 2026 and the second phase expected in September 2029. The acquisition price for the first phase is estimated at ¥331 million, while the second phase’s price will vary depending on performance. Asanuma Corporation emphasized that the fair valuation of the shares was determined through due diligence conducted by a third-party agency and comparative analysis methods. With the acquisition, Asanuma Corporation aims to bolster its presence in the ASEAN renovation sector, contributing to its overall growth strategy. The company stated that the impact on its future earnings forecast for the March 2027 fiscal year is expected to be minor.
Any further significant developments related to this transaction will be disclosed promptly.
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