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Pharma Foods International Co Ltd to Merge with Hiroshima Bio-Medical Co.,Ltd; Announces Waiver of Debts; Expects Extraordinary Loss for FY 2013

Wednesday, 31 Jul 2013 02:00am EDT 

Pharma Foods International Co Ltd announced that it has decided to merge with Hiroshima Bio-Medical Co.,Ltd., effective September 30, 2013. After this, the Company will be the surviving company and the subsidiary will the dissolved. Along with the transaction, the Company will waive the debt of JPY 30 million of Hiroshima Bio-Medical Co.,Ltd. to the Company, on July 31, 2013. The Company is expecting an extraordinary loss of JPY 30 million due to the waiver of debt, for the fiscal year ended July 2013. 

Company Quote

-106.0 -7.57%
19 Dec 2014