J Trust Co., Ltd. completed the acquisition of Mirainovate Co., Ltd. from the group of shareholders ¥13.2 billion.
February 31, 2023
Share
J Trust Co., Ltd. (TSE:8508) intends to acquire Mirainovate Co., Ltd. (TSE:3528) on October 12, 2022. J Trust Co., Ltd. (TSE:8508) entered into a merger agreement to acquire Mirainovate Co., Ltd. (TSE:3528) from the group of shareholders ¥13.2 billion on November 14, 2022. As per the terms, For every Mirainovate share 0.42 share of J Trust will be issued. J Trust will issue 20,702,934 shares for the merger. Upon completion Mirainovate will be absorbed company and J trust will be the surviving entity. Transaction is expected to close on February 1, 2023. Special committee consist of Toshiya Natori, Akihiro Tozawa, Naoki Ouchi will ensure the fairness for minority shareholders. TMI Associates acted as a legal advisor, Plutus Consulting Co., Ltd. provided the fairness opinion to Mirainovate. Uryu & Itoga acted as a legal advisor, U&I Advisory Service Co., Ltd. provided the fairness opinion to J Trust Co., Ltd. (TSE:8508).
J Trust Co., Ltd. (TSE:8508) completed the acquisition of Mirainovate Co., Ltd. (TSE:3528) on February 1, 2023.
J Trust Co Ltd is a Japan-based company mainly engaged in Japan finance business, Korea and Mongolia finance business, Southeast Asia finance business, real estate business, and investment business. The Company operates in five business segments. The Japan Finance segment consists of credit guarantee services, debt collection services, credit and consumer credit services, securities services, and other financial services. The Korea and Mongolia Financial segment consists of savings banking, debt collection, and financial services. The Southeast Asia Finance segment includes banking and debt collection services. The Real Estate segment consists of real estate development, subdivision, and sales of single-family houses, design and construction of detached houses, real estate leasing, and real estate rental management. The Investment segment consists of domestic and overseas investment operations. The Company is also engaged in system business.