The Japan Wool Textile Co., Ltd. cancelled the acquisition of an additional 16.21% stake in Ashimori Industry Co., Ltd. from Toyobo Co. Ltd..
April 10, 2014 at 12:00 am EDT
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The Japan Wool Textile Co., Ltd. (TSE:3201) entered into share transfer contract to acquire an additional 16.21% stake in Ashimori Industry Co., Ltd. (TSE:3526) from Toyobo Co. Ltd. (TSE:3101) for ¥1.3 billion in cash on April 10, 2013. The Japan Wool Textile Co., Ltd. will acquire 9.2 million shares at the price of ¥138 per share and will increase its holding to 9.67 million shares in Ashimori. Board of Directors of Japan Wool Textile made a resolution for transaction on April 10, 2013. The transaction is expected to close on April 24, 2013.
The Japan Wool Textile Co., Ltd. (TSE:3201) cancelled the acquisition of an additional 16.21% stake in Ashimori Industry Co., Ltd. (TSE:3526) from Toyobo Co. Ltd. (TSE:3101) on April 10, 2014.
Ashimori Industry Co., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of automotive safety parts and functional products. The Company operates in two business segments. The Automotive Safety Parts segment is engaged in the manufacture and sale of automotive seat belts, air-bags, rear compartment covers, electric rear sunshades and others. The Functional Products segment is engaged in the provision of high capacity material fabrics, synthetic fiber ropes, narrow fabrics, fire hoses, fire hydrant hoses, industrial hoses, disaster prevention supplies, pipe repair hoses and construction work, and other related materials. The Company is also engaged in the real estate leasing business.
ASHIMORI INDUSTRY CO., LTD. 
