The Bank of Okinawa, Ltd. completed the acquisition to acquire Okinawa Securities Ltd. from Japan Asia Securities Co., Ltd. and others.
March 30, 2017
Share
The Bank of Okinawa, Ltd. (TSE:8397) signed a basic agreement to acquire Okinawa Securities Ltd. from Japan Asia Securities Co., Ltd. and others for ¥1.2 billion on December 22, 2016. On February 9, 2017, an agreement is concluded. As per the terms of the agreement, 11.2 million shares will be acquired. For the year ending March 2016, Okinawa Securities Ltd. reported sales of ¥888 million, operating loss of ¥2 million, net loss of ¥1.39 billion, total assets of ¥3.29 billion and net assets of ¥7 million. The transaction is expected to close in February 2017. As on February 9, 2017, the deal is expected to close in mid-march 2017.
The Bank of Okinawa, Ltd. (TSE:8397) completed the acquisition to acquire Okinawa Securities Ltd. from Japan Asia Securities Co., Ltd. and others on March 31, 2017.
The Bank of Okinawa, Ltd. is a Japan-based company mainly engaged in the banking, leasing, credit card, credit guarantee and financial products business. The Company operates through two business segments. The Banking segment includes deposit business, lending business, foreign exchange business, securities investment business, window sales business for government bonds and trust business. The Leasing segment is involved in the leasing and related businesses. The Company is also involved in the mortgage credit guarantee services, financial product transaction services, cash scrutiny and consolidation services, receivables management and collection services, financial and economic research and research services, as well as the computer-related services.
OKINAWA FINANCIAL GROUP, INC. 
