Sanyo Co., Ltd. cancelled the acquisition of game arcade business from Shinki Bus Co.,Ltd..
May 23, 2015 at 12:00 am EDT
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Sanyo Co., Ltd. signed a basic agreement to acquire game arcade business from Shinki Bus Co.,Ltd. (TSE:9083) for ¥1.2 billion on May 23, 2014. The game arcade business will be converted into a company and will be named S Amusement Co., Ltd. As of March 2014, game arcade business reported sales of ¥2.4 billion. Post transaction, Sun Piece Co., Ltd. will be created in place of game arcade business. The transaction has been approved by Board of Directors of Shinki Bus Co., Ltd. Board of Directors' resolution for the approval of the transaction and new establishment plans is due on mid June 2014. Signing of the share transfer agreement is expected in mid June 2014. The transaction is expected to be closed by August 29, 2014
Sanyo Co., Ltd. cancelled the acquisition of game arcade business from Shinki Bus Co.,Ltd. (TSE:9083) on May 23, 2015.
SHINKI BUS CO.,LTD. is a Japan-based company mainly engaged in the provision of car transportation services. It operates through six business segments. Automobile Transportation segment is engaged in the provision of general transportation, passenger and specific passenger transportation, postal transportation, general transportation consignment, and cable search. Vehicle Sales and Maintenance segment is engaged in the sale of automotive parts and tires, the repair of automobiles, and insurance agent. Leisure Service segment is engaged in the food and beverage business, Tsutaya franchise business. Real Estate segment is engaged in the buying, sale, rental and management of real estate. Travel Charter segment provides travel business and general charter bus business. Outsourcing segment includes car operation and maintenance, and nursing care business. It provides advertising agency service, cleaning and security, childcare, Web service operation, crop production, sale and wholesale.
SHINKI BUS CO.,LTD. 
