Nihon Seikan k.k. (TSE:5905) agreed to acquire additional 12.85% stake in Shinsei Seikan Co., Ltd. from JFE Container Co., Ltd. (TSE:5907) and Marubeni-Itochu Steel Inc. for ¥200 million on April 28, 2016. Nihon Seikan k.k. will acquire 0.24 million shares of Shinsei Seikan Co., Ltd. After the transaction, Nihon Seikan k.k. will hold 51% stake, JFE Container Co., Ltd will hold 34% stake and Marubeni Itochu Steel, Inc. will hold 15% stake in Shinsei Seikan Co., Ltd. A contract is expected to be concluded on July 1, 2016. As of July 1, 2016, a contract is expected to be concluded in mid July 2016. A contract is concluded on July 19, 2016. Nihon Seikan Board has passed a resolution for the transaction. The transaction is expected to close on July 1, 2016. As of July 1, 2016, the transaction is expected to be completed in mid-July 2016. The advisory costs are ¥5 million.

Nihon Seikan k.k. (TSE:5905) completed the acquisition of additional 12.85% stake in Shinsei Seikan Co., Ltd. from JFE Container Co., Ltd. (TSE:5907) and Marubeni-Itochu Steel Inc. on July 19, 2016.