Autobacs Seven Co., Ltd. signed stock transfer agreement to acquire Kokusai Shopazueito Co., Ltd.
February 04, 2019
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Autobacs Seven Co., Ltd. (TSE:9832) signed stock transfer agreement to acquire Kokusai Shopazueito Co., Ltd on February 5, 2019. Under the terms, Autobacs Seven will acquire 1 shares of Kokusai Shopazueito. Post-acquisition, Kokusai Shopazueito will become a wholly owned subsidiary of Autobacs Seven. Following approval at the extraordinary general shareholders meeting held on March 1, 2019, Kokusai Shopazueito will change the company name to Autobacs Mino Co., Ltd. The transaction has been resolved by the Board of Directors of Autobacs Seven Co., Ltd at the meeting held on February 5, 2019. The transaction is expected to be completed by March 1, 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. 
