Tokyo Gas Pipe Network Co., Ltd. signed a basic agreement to acquire Gas Conduit Maintenance Management Project from Kyowanissei Co.,Ltd..
September 26, 2018
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Tokyo Gas Pipe Network Co., Ltd. signed a basic agreement to acquire Gas Conduit Maintenance Management Project from Kyowanissei Co.,Ltd. (JASDAQ:1981) on September 27, 2018. Date of concluding division contract will be on January 31, 2019. The Gas Conduit Maintenance Management Project reported sales of ¥2.2 billion during the year ending March 31, 2018. The approval of split contract at Board of Directors Resolution will be held on December 13, 2018. Effective date of the company split relating to facility security related business will be on April 1, 2019 and effective date of this company split relating to Conduit security related business, emergency security related business will be on October 1, 2019. As of January 23, 2020, the board of directors of Kyowanissei Co approved the transaction. The transaction does not require shareholders’ Kyowanissei Co approval. The transaction agreement would take place on January 24, 2020 and expected to close on April 1, 2020.
KYOWANISSEI CO., LTD. is a Japan-based company mainly engaged in the gas construction business, and construction and civil engineering business. The Company operates through three business segments. Gas construction segment is engaged in the gas construction business, including main pipe burial construction, branch pipe burial construction, and indoor plumbing construction, as well as heating and cooling hot water supply, and air conditioning equipment construction businesses. Construction and Civil Engineering segment is engaged in the construction and equipment work, including construction work, plumbing and sanitary equipment work, and air conditioning equipment work, as well as electrical and civil engineering work, including burial work for electric conduits, water and sewage works, and civil engineering work. Other segment is engaged in the leasing and maintenance of vehicles, non-life insurance agency services, and inspection services for plumbing with scientific instruments.
KYOWANISSEI CO.,LTD. 
