Seino Holdings Co., Ltd. cancelled the acquisition of remaining 47.5% stake in Seino Tuuun Co., Ltd. from Taguchi Fukujukai Foundation, Endowment Arm, Yoshitaka Taguchi, Sakae Taguchi and Yoshikazu Taguchi.
February 16, 2016 at 11:00 pm EST
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Seino Holdings Co., Ltd. (TSE:9076) entered into an agreement to acquire remaining 47.5% stake in Seino Tuuun Co., Ltd. from Taguchi Fukujukai Foundation, Endowment Arm, Yoshitaka Taguchi, Sakae Taguchi and Yoshikazu Taguchi for ¥1.4 billion on February 17, 2015. Under the terms of the agreement, 56.97 shares of Seino Holdings will be issued per Seino Tuuun share. In related transactions, Seino Holdings also agreed to acquire the remaining stake in its five subsidiaries. Seino Tuuun reported net assets of ¥6.4 billion, total assets of ¥7.2 billion, revenues of ¥3.1 billion, operating profit of ¥234 million and net income of ¥257 million for the period ended March 31, 2014. An extraordinary shareholders' meeting of Seino Tuuun Co., Ltd. for the approval of the share exchange will be held on March 27, 2015. The transaction is expected to close on April 1, 2015. Ernst & Young Transaction Advisory Services Co., Ltd. provided the share calculations.
Seino Holdings Co., Ltd. (TSE:9076) cancelled the acquisition of remaining 47.5% stake in Seino Tuuun Co., Ltd. from Taguchi Fukujukai Foundation, Endowment Arm, Yoshitaka Taguchi, Sakae Taguchi and Yoshikazu Taguchi on February 17, 2016.
SEINO HOLDINGS CO., LTD. is a Japan-based company mainly engaged in the transportation business, automobile sales business, goods sales business, real estate leasing business and other business. The Company operates in four segments. The Transportation segment is engaged in domestic transportation business centered on freight trucking transportation as well as other businesses include air transportation, rail transportation, water transportation, warehousing business, air transport agency business, property insurance agency business and international transportation. The Automobile Sales segment is engaged in the sales and repair of trucks, passenger cars and auto parts. The Goods Sales segment is engaged in the sales of fuel and paper, etc. The Real Estate Leasing segment is engaged in the leasing of assets such as substitute track terminal vacant sites. Other businesses include information related business, administrative agency business, advertising agency business, etc.
SEINO HOLDINGS CO., LTD. 
