Kanaseki Union Co., Ltd. cancelled the acquisition of Sotetsu Jidosha Kogyo Co., Ltd from Sotetsu Holdings, Inc..
February 22, 2013 at 11:00 pm
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Kanaseki Union Co., Ltd. concluded a share transfer contract to acquire Sotetsu Jidosha Kogyo Co., Ltd from Sotetsu Holdings, Inc. (TSE:9003) on February 23, 2012. Kanaseki Union Co., Ltd will acquire 0.1 million shares of Sotetsu Jidosha Kogyo Co., Ltd. Sotetsu Jidosha Kogyo Co., Ltd reported sales of ¥579.33 million, operating loss of ¥21.52 million, current loss of ¥21.02 million, net income of ¥1.58 million, total assets of ¥332 million and net liabilities of ¥35 million for the year ending March 2011. The Board of Directors of Sotetsu Holdings, Inc. passed a resolution for the transaction on February 23, 2012 and the transaction is expected to be completed on March 30, 2012.
Kanaseki Union Co., Ltd. cancelled the acquisition of Sotetsu Jidosha Kogyo Co., Ltd from Sotetsu Holdings, Inc. (TSE:9003) on February 23, 2013.
Sotetsu Holdings, Inc. is a Japan-based holding company mainly engaged in transportation business, distribution business and others. The Company mainly operates five business segments. Transportation segment provides railway, car business and others. Distribution segment involves in the operation of supermarkets and distribution business. Real Estate segment engages in the sale and leasing of properties. Hotel segment is engaged in the development and operation of hotels. The Others segment engages in the building maintenance business, the supply of heat and other businesses.
SOTETSU HOLDINGS, INC. 
