Autobacs Seven Co., Ltd. agreed to acquire Seiwa Automobile Sales Co., Ltd. from Tsuyoshi Nishimura.
May 06, 2019
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Autobacs Seven Co., Ltd. (TSE:9832) agreed to acquire Seiwa Automobile Sales Co., Ltd. from Tsuyoshi Nishimura on May 7, 2019. Autobacs Seven Co., Ltd. will acquire 200 shares of Seiwa Automobile Sales Co., Ltd. Post completion, Seiwa Automobile Sales Co., Ltd. will become wholly owned subsidiariy of Autobacs Seven Co., Ltd. Transaction is subject to approval of the ordinary general meeting of shareholders and board of directors scheduled to be held on June 3, 2019. Transaction was resolved by Autobacs Seven Co., Ltd. on May 7, 2019. Completion is expected on June 3, 2019.
Autobacs Seven Co Ltd is a Japan-based company primarily engaged in the retail and wholesale of automobile products, the purchase and sale of vehicles, the provision of vehicle inspection and maintenance services, as well as the loan credit business. The Company operates in four segments. The Domestic Autobacs segment is engaged in the wholesale of car products and the leasing of store facilities. The Overseas segment is engaged in the sales of car accessories, the provision of installation service and the maintenance of cars to general consumers. The Car, Dealers and B-to-B segment is engaged in the sales of imported cars, the purchase of used cars and the sales of the cars to second hand car dealers and others. The Others segment is engaged in the leasing business to domestic franchise chain affiliates.
AUTOBACS SEVEN CO., LTD. 
