Toyoda Gosei Co., Ltd. agreed to acquire a 14.48% stake in Ashimori Industry Co., Ltd. from The Japan Wool Textile Co., Ltd..
July 27, 2023
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Toyoda Gosei Co., Ltd. (TSE:7282) agreed to acquire a 14.48% stake in Ashimori Industry Co., Ltd. (TSE:3526) from The Japan Wool Textile Co., Ltd. (TSE:3201) on July 28, 2023. The transaction is expected to close from late October to late November 2023. As on November 30, 2023, board of directors meeting held, the Company resolved to enter into a capital and business alliance agreement with Ashimori Industries regarding the safety system business and to conclude a stock transfer agreement with The Japan Wool Textile on November 30, 2023, and Stock transfer date will be on November 30, 2023.
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. 
