Ku Holdings Co., Ltd. agreed to acquire Stern Yokohamahigashi Co., Ltd from Km Trading, K.K.
December 25, 2019
Share
Ku Holdings Co., Ltd. (TSE:9856) agreed to acquire Stern Yokohamahigashi Co., Ltd from Km Trading, K.K. on December 26, 2019. Under the terms, Ku Holdings Co., Ltd. will acquire 1390 shares of Stern Yokohamahigashi Co., Ltd. Post completion, Stern Yokohamahigashi Co., Ltd will operates as a subsidiary of Ku Holdings Co., Ltd. Stern Yokohamahigashi Co., Ltd reported net assets of ¥14.7 billion, total assets of ¥18.05 billion, operating income of ¥451 million, sales of ¥11.4 billion and net income of ¥1.8 billion as of July 2019. The transaction was resolved by the Board of Ku Holdings Co., Ltd. on December 26, 2019. The transaction is subject to approval from relevant authorities. The transaction is expected to close on January 31, 2020.
KU HOLDINGS CO.,LTD. is a Japan-based company mainly engaged in the sale and maintenance of automobiles. The Company operates through two business segments. The Domestic Car Sales segment is engaged in the sale and maintenance of domestic and imported used cars. The Imported Car Dealer segment is engaged in the carâs sale and maintenance of Mercedes-Benz, BMW, MINI, Chrysler, GM, Volkswagen and Harley Davidson. The Company is also engaged in the provision of non-life insurance agency services.