Autobacs Seven Co.,Ltd. agreed to acquire Takamori Jidousha Seibi Kogyo Co., Ltd. from Hiroyuki Takamori.
February 27, 2020
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Autobacs Seven Co.,Ltd. (TSE:9832) agreed to acquire Takamori Jidousha Seibi Kogyo Co., Ltd. from Hiroyuki Takamori on February 28, 2020. Under the term, Autobacs Seven will acquire 0.02 million shares of Takamori Jidousha Seibi Kogyo. Post completion, Takamori Jidousha Seibi Kogyo will operate as a wholly owned subsidiary of Autobacs Seven. The transaction was resolved on February 28, 2020. The resolution of share transfer plan at shareholders’ meeting by both the companies will be on March 2, 2020. The transaction is expected to close on April 1, 2020. As of March 27, 2020, the transaction is expected to complete on May 1, 2020.
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. 
