The Japan Wool Textile Co., Ltd. cancelled the acquisition of additional 7.5% stake in Sotoh Co., Ltd..
August 19, 2019
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The Japan Wool Textile Co., Ltd. (TSE:3201) agreed to acquire additional 7.5% stake in Sotoh Co., Ltd. (TSE:3571) on August 20, 2018. A total of 0.95 million shares will be acquired as part of the deal. If Japan Wool Textile acquires these shares, the number of shares owned by Japan Wool Textile becomes 8.4% of Sotoh Co., Ltd.'s total outstanding shares. Board of Japan Wool Textile resolved in favor of the deal on the same date. Deal is expected to close by August 21, 2018.
The Japan Wool Textile Co., Ltd. (TSE:3201) cancelled the acquisition of additional 7.5% stake in Sotoh Co., Ltd. (TSE:3571) on August 20, 2019.
SOTOH CO.,LTD. is engaged in textile processing, manufacturing, sales and real estate business of textile products. The Company operates in three business segments. The Dyeing business segment is engaged in the dyeing of textile products. The group's dyeing process is to dye materials for high-grade fashion clothing, high-grade men's clothing, formal and office uniforms, mainly wool and composite materials. The Textile business segment is engaged in the manufacture and sale of textile products. The Group's textile business focuses on planning, manufacturing and sales of materials and products such as luxury fashion clothing and office uniforms. The Real Estate business segment is engaged in leasing stores and land to mass retailers.