Autobacs Seven Co., Ltd. cancelled to acquire 83.3% in AUTOSTARS Ltd. from Toshiaki Teshima.
October 30, 2020
Share
Autobacs Seven Co., Ltd. (TSE:9832) signed an agreement to acquire 83.3% in AUTOSTARS Ltd. from Toshiaki Teshima on October 1, 2019. As per terms, 250 shares will be acquired. Post completion it will operate as KUMAMOTO AUTOBACS Co., Ltd. The deal is expected to close on November 1, 2019. The transaction will have no significant impact on consolidated business results of Autobacs Seven Co., Ltd. for the current fiscal year.
Autobacs Seven Co., Ltd. (TSE:9832) cancelled to acquire 83.3% in AUTOSTARS Ltd. from Toshiaki Teshima on October 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. 
