Kawai Musical Instruments Manufacturing Co., Ltd. cancelled the acquisition of 2.68% stake in Gakken Holdings Co., Ltd..
July 31, 2016 at 12:00 am EDT
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Kawai Musical Instruments Manufacturing Co., Ltd. (TSE:7952) agreed to acquire 2.68% stake in Gakken Holdings Co., Ltd. (TSE:9470) for ¥600 million on July 31, 2015. Under the terms of the deal, Kawai Musical Instruments Co will acquire 2.44 million shares of Gakken Holdings. In a related transaction, Gakken Holdings Co., Ltd. (TSE:9470) agreed to acquire 3.5% stake in Kawai Musical Instruments Manufacturing Co., Ltd. (TSE:7952) for ¥600 million July 31, 2015.
Kawai Musical Instruments Manufacturing Co., Ltd. (TSE:7952) cancelled the acquisition of 2.68% stake in Gakken Holdings Co., Ltd. (TSE:9470) on July 31, 2016.
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of musical instruments, material processing and information-related business. It has two business segments. Musical Instrument Education segment is engaged in the sale of pianos, electronic musical instruments, musical instrument toys and wind, strings and percussion instruments, the operation of music and physical education classes, the provision of musical instrument tuning and repair service, and the publication and sale of music scores and books. It is also engaged in the manufacture and sale of software used in music education. Material Processing segment is engaged in metal materials processing for electronic and electrical parts, automotive parts, as well as the manufacture and sale of pig iron castings and materials of soundproof rooms and acoustic components. It is also engaged in information-related business, finance-related business, insurance agency business.
KAWAI MUSICAL INSTRUMENTS MANUFACTURING CO., LTD. 
