Concluded a contract for business integration with Nitori Shimachu To take over the shares November 13, 15:47
Shimachu Co., Ltd., which operates home improvement stores in the Tokyo metropolitan area with Nitori Holdings, a major furniture and daily necessities company, announced that it has signed a contract for business integration.
In response to this, Nitori plans to start a takeover bid for TOB = shares to make Shimachu a wholly owned subsidiary from the 16th of this month.
Shimachu agreed to the acquisition proposal by the major home improvement store "DCM Holdings" in October, but it turned out to be an unusual development to embark on a business integration with Nitori.