Suning Appliance increased Capital Japan Laox company 160 million yuan

Suning Electric Co., Ltd. (sz.002024, hereinafter referred to as Suning appliances) August 16 announced that its wholly-owned foreign subsidiaries signed the agreement on the same day, to 94 yen/share of the price of Japan Laox Co., Ltd. directed issued 2,127 660,000 shares,　　The total investment is about 2 billion yen (about 160 million RMB).　　The transaction is expected to be completed in mid-September, after the completion of the transaction, Suning will hold Laox shareholding from 29% to 34%, further consolidating as Laox the first major shareholder status. Suning e-mailed the news to reporters.　　It is reported that the laox of the total number of targeted additional shares of 2,659.570,000 shares, mainly for Granda MAGIC, Japan Tourism Duty-free Co., Ltd. directed issue, the issue price of 94 yen/share, not less than the Laox held a review of the issue of the Board of Directors of the previous trading day close 104 Yen 90%.　　Suning also proposed to nominate 2 directors to LAOX's board of directors, but the above nomination matters still need to be considered by the Laox shareholders ' meeting, and if approved, Su Ning will assign four members to the Laox seven-person board of directors. LAOX Co., Ltd. is a Japanese electrical retail enterprises, entrepreneurship in 1930, in the second part of the Tokyo Exchange Board listing, its main business is 3C home appliances, animation games, toy models, musical instruments and other products sales.　　Suning Appliance and Japan Tourism Tax exemption on August 3, 2009 for the first time to take a stake in Laox, as of August 13, 2010, two companies hold laox29.16% and 25.52% of the equity, for the Laox first to second largest shareholder. Suning Electric Appliance 2010 First quarter income 16.71 billion yuan, the profit 880 million yuan.