The Bank of Kyoto, Ltd. entered into an agreement to acquire remaining 51% stake in Kyoto Guaranty Service Co., Ltd from Kyoyu Shoji Co., Ltd. and other seller for ¥3.9 billion.
November 12, 2017
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The Bank of Kyoto, Ltd. (TSE:8369) entered into an agreement to acquire remaining 51% stake in Kyoto Guaranty Service Co., Ltd from Kyoyu Shoji Co., Ltd. and other seller for ¥3.9 billion on November 13, 2017. The Bank of Kyoto, Ltd. will issue 216 shares for each share of Kyoto Guaranty Service Co., Ltd and will issue total of 0.66 million shares. The Bank of Kyoto, Ltd. will operate Kyoto Guaranty Service Co., Ltd as wholly owned subsidiary.
During the year ended March 31, 2017, Kyoto Guaranty Service Co., Ltd had total assets of ¥25.7 billion, net assets of ¥11.5 billion, operating revenue of ¥2.3 billion, and net income of ¥1.4 billion. The date of extraordinary general meeting of shareholders of Kyoto Guaranty Service is December 1, 2017. Board of Directors of The Bank of Kyoto, Ltd. and Kyoto Guaranty Service Co., Ltd made a resolution in favor of the transaction on November 13, 2017. The transaction is expected to complete on December 25, 2017. The Bank of Kyoto selected Rutland Audit Corp to calculate for the share exchange ratio as an independent valuation institution.
Kyoto Financial Group Inc is a Japan-based company mainly engage in the management and administration of banks and other companies that may be made subsidiaries under the Banking Law, as well as other businesses incidental and related thereto. The Kyoto Bank Group is principally engaged in banking business and other businesses related to financial services, including leasing, credit card, and securities businesses. The head office and other branches of Kyoto Bank conduct deposit, lending, trading of commodity securities, investment in securities, domestic exchange, foreign exchange, and trust businesses, and are positioned as the core operations of the group. In addition, through its consolidated subsidiaries, the Company is engaged in the provision of real estate management and leasing services, management of electronic commerce (EC) malls, credit guarantee services, leasing services, investment services, credit card services, economic research, and business consultation services.
The Bank of Kyoto, Ltd. entered into an agreement to acquire remaining 51% stake in Kyoto Guaranty Service Co., Ltd from Kyoyu Shoji Co., Ltd. and other seller for ¥3.9 billion.
BK OF KYOTO 
