Bank of the Ryukyus, Limited cancelled the acquisition of remaining 50.09% stake in Ryukyu Lease Co., Ltd. from consortium of investors.
May 09, 2018
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Bank of the Ryukyus, Limited (TSE:8399) signed a exchange agreement to acquire remaining 50.09% stake in Ryukyu Lease Co., Ltd. from consortium of investors for approximately ¥740 million on May 10, 2017. As per the terms of agreement the acquisition will be made through stock swap. One share of Ryukyu Lease Co., Ltd. will be exchanged for 4.05 shares of Bank of the Ryukyus, Limited and in total 0.45 million shares of Bank of the Ryukyus will be issued. Ryukyu Lease Co., Ltd. reported total assets of ¥38.7 billion, net income of ¥453 million and net assets of ¥5.1 billion for the year ending, March 31, 2017. The meeting of the shareholders of Bank of the Ryukyus is scheduled on June 26, 2017 to approve the transaction. The Board of Bank of the Ryukyus passed the resolution for the transaction on May 10, 2017. The transaction is expected to close on July 31, 2017. Yamada FAS Co., Ltd. acted as appraiser for Bank of the Ryukyus.
Bank of the Ryukyus, Limited (TSE:8399) cancelled the acquisition of remaining 50.09% stake in Ryukyu Lease Co., Ltd. from consortium of investors on May 10, 2018.
Mitsubishi HC Capital Inc, formerly Mitsubishi UFJ Lease & Finance Co Ltd, is a Japan-based company mainly engaged in the financial business. The Company operates in two business segments. The Customer Finance segment is engaged in the finance lease and installment sale of machinery, equipment and fixtures, as well as the provision of monetary loan services and other related financial services. The Asset Finance segment is engaged in the operating lease of machinery and transportation equipment, the investment and loan businesses related to real estate, the management of securities, the finance business related to aircrafts and ships, as well as the leasing of office buildings.
MITSUBISHI HC CAPITAL INC. 
