December 23, 2021
Dear All:
Company name | Japan Living Warranty Inc. |
Name of representative | Yoshitaka Adachi |
person | |
Representative director and president | |
(Code: 7320 TSE Mothers) | |
Contact | Atsushi Yoshikawa |
Director and General Manager of the | |
Administrative Division | |
(TEL：03－6276－0401) |
Announcement of the Acquisition of the Fixed Asset (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 asset (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 asset to be acquired
Location | Name | Land (acreage) | Building | ||
Total floor area | Building year | Structure | |||
Chigusa-ku, | Ferroconcrete structure | ||||
Apartment building | 199.44 ㎡ | 762.54 ㎡ | February 2004 | Flat-roofedseven-story | |
Nagoya City | |||||
building | |||||
Acquisition price | Acquisition funds | Transaction | Property delivery | ||
agreement date | date | ||||
Own funds & | December 24, 2021 | End-January 2022 | |||
285 million yen | borrowings from | ||||
(plan) | (plan) | ||||
financial institutions | |||||
3. Overview of the seller
As the seller is an individual, the Company sees it advisable to refrain from disclosing detailed information on it.
There are no particular matters to be noted between the Company and the seller, including capital ties, personal relationships, business relations and 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 income property.
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 the fixed asset is expected to have only a minor impact on the consolidated financial performance of the Japan Living Warranty Group.