Japan Elevator Service Holdings Co.,Ltd. agreed to acquire Nagano Elevator Co., Ltd. from two individuals.
October 13, 2020
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Japan Elevator Service Holdings Co.,Ltd. (TSE:6544) agreed to acquire Nagano Elevator Co., Ltd. from two individuals on October 14, 2020. Japan Elevator Service Holdings Co.,Ltd. will acquire 200 shares of Nagano Elevator Co., Ltd. Post completion, Nagano Elevator Co., Ltd. will become a subsidiary of Japan Elevator Service Holdings Co.,Ltd. Nagano Elevator Co., Ltd. reported net assets of ¥51.019 million, total assets of ¥65.967 million, sales of ¥103.441 million, operating profit of ¥6.257 million and net profit of ¥4.528 million for the ended February 2020. As of October 14, 2020, board of directors of Japan Elevator Service Holdings Co.,Ltd. resolved the transaction. The transaction is expected to complete on November 2, 2020.
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the provision of the maintenance and inspection service for elevators and escalators, as well as the renewal service for elevators. The Company operates three kind of businesses. The maintenance and inspection business is involved in the provision of maintenance, inspection, replace and repair services for the engine performance and the operation safety of elevators and escalators. The renewal business is involved in the provision of a full range of main componentsâ replacing service, the removal service of products already in the field, as well as the new setting service for elevators which are installed 20 years ago. The others business is involved in the sale of parts for elevatorâs maintenance.
JAPAN ELEVATOR SERVICE HOLDINGS CO.,LTD. 
