S Line Co.,Ltd. cancelled the acquisition of remaining 26.73% stake in S Line Hashima K.K. from Matsuko Kunitachi, Akio Yasuda, Katsuji Kunitachi, Yukiko Kunitachi and other shareholders.
March 22, 2017
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S Line Co.,Ltd. (NSE:9078) concluded a contract to acquire remaining 26.73% stake in S Line Hashima K.K. from Matsuko Kunitachi, Akio Yasuda, Katsuji Kunitachi, Yukiko Kunitachi and other shareholders for approximately ¥180 million on March 23, 2016. Under the terms of the transaction, S Line Co.,Ltd will issue 4 shares for every 1 share of S Line Hashima K.K. S Line Co.,Ltd will issue 0.21 million shares as consideration. Matsuko Kunitachi will sell 6.29% stake, Akio Yasuda will sell 4.74% stake, Katsuji Kunitachi will sell 4.54% stake and Yukiko Kunitachi will sell 4.08% stake. In a related transaction, S Line Co.,Ltd. concluded a contract to acquire remaining 12.3% stake in S Line Kyushu. After the transaction, S Line Hashima K.K. will operate as a wholly owned subsidiary of S Line Co.,Ltd. S Line Hashima K.K. reported total assets of ¥697 million and net assets of ¥555 million for the period ending March 31, 2015.
The transaction is expected to be completed on July 1, 2016. OAG Certified Public Tax Accountant’s Corporation acted as the appraiser and calculated the share exchange ratio.
S Line Co.,Ltd. (NSE:9078) cancelled the acquisition of remaining 26.73% stake in S Line Hashima K.K. from Matsuko Kunitachi, Akio Yasuda, Katsuji Kunitachi, Yukiko Kunitachi and other shareholders as of March 23, 2017.
S Line Group Co Ltd, formerly S LINE CO.,LTD., is a Japan-based company mainly engaged in logistics-related businesses. The Company operates in two business segments. The Logistics-related segment mainly provides lorry transportation, warehousing, car maintenance, information processing services, and non-life insurance agency business. The Real Estate-related segment is engaged in leasing business to make effective use of assets. The Company is also engaged in passenger car transportation business and power sale business.
S Line Co.,Ltd. cancelled the acquisition of remaining 26.73% stake in S Line Hashima K.K. from Matsuko Kunitachi, Akio Yasuda, Katsuji Kunitachi, Yukiko Kunitachi and other shareholders.