Seino Holdings Co., Ltd. cancelled the acquisition of the remaining 20% stake in Seino Family Co., Ltd. from Seino Sangyo Co.Ltd.
February 16, 2016 at 11:00 pm EST
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Seino Holdings Co., Ltd. (TSE:9076) signed a share exchange contract to acquire the remaining 20% stake in Seino Family Co., Ltd. from Seino Sangyo Co.Ltd for ¥67.3 million in stock on February 17, 2015. In related transactions, Seino Holdings also agreed to acquire the remaining stake in its five subsidiaries. 2662.58 treasury shares of Seino Holdings will be issued per Seino Family share. Seino Family will operate as a wholly owned subsidiary of Seino Holdings. Seino Family had net assets of ¥65 million, total assets of ¥808 million, revenue of ¥114 million, operating profit of ¥33 million and net income of ¥40 million for the year ending March 2014. The Board of Directors of Seino Holdings passed a resolution for the transaction. The shareholder meeting of Seino Family is scheduled on March 27, 2015. The expected date of the share exchange is scheduled 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 the remaining 20% stake in Seino Family Co., Ltd. from Seino Sangyo Co.Ltd 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. 
