ZENKOKU HOSHO Co.,Ltd. agreed to acquire portion of the Guarantee Business of SMBC Finance Service Co., Ltd. for ¥1.
December 13, 2020
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ZENKOKU HOSHO Co.,Ltd. (TSE:7164) agreed to acquire portion of the Guarantee Business of SMBC Finance Service Co., Ltd. for ¥1 on December 14, 2020. ZENKOKU HOSHO will issue ¥1 in cash as consideration. As of March 31, 2020, Guarantee Business of SMBC Finance Service Co., Ltd. reported ¥16 million in sales. The transaction is expected to close on March 1, 2021.
ZENKOKU HOSHO Co., Ltd. is mainly engaged in the operation of credit guarantee business. The Companyâs guarantee products comprise three categories. The housing loan guarantees are its core products, which can meet the diverse needs of customers, such as housing acquisition funds and refinancing funds, and renovation funds and others. It acquires guarantee fees from guarantee requesters through the classification by collateral valuation and other requirements such as annual income and years of service. Education loan guarantee products guarantee the borrowings of education funds, which deal with term loans, overdraft and other formats. About the use of funds, it deals with tuition fees, exam costs and others. The apartment loan guarantee products guarantee the borrowings of construction costs of rental housing.
ZENKOKU HOSHO CO.,LTD. 
