The Nanto Bank, Ltd. completed the acquisition of an additional 95.22% stake in Nara Securities Co., Ltd.
October 30, 2018
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The Nanto Bank, Ltd. (TSE:8367) concluded a basic agreement to acquire an additional 95.22% stake in Nara Securities Co., Ltd. on February 5, 2018. The Nanto Bank, Ltd. will continue discussions with the shareholders of Nara Securities, leading to the conclusion of share transfer agreement towards acquiring all shares of Nara Securities. On August 3, 2018, The Nanto Bank, Ltd. concluded a share transfer agreement to acquire an additional 95.22% stake in Nara Securities Co., Ltd. Under the terms of the acquisition, 1.88 million shares will be acquired and The Nanto Bank, Ltd.’s stake in Nara Securities Co., Ltd. will increase from 2.53% to 97.75%. The transaction is subject to approval from relevant authorities. The Board of The Nanto Bank, Ltd. resolved the transaction on February 5, 2018. On August 3, 2018, the Board of The Nanto Bank, Ltd. passed a resolution on the transaction again. The transaction is expected to complete in August 2018. As of August 3, 2018, the transaction is expected to complete on October 1, 2018.
The Nanto Bank, Ltd. (TSE:8367) completed the acquisition of an additional 95.22% stake in Nara Securities Co., Ltd. on October 1, 2018. As of October 1, 2018, The Nanto Bank received approval from relevant authorities.
The Nanto Bank, Ltd. is a Japan-based company mainly engaged in banking, leasing and credit guarantee and other financial business. The Company operates through two business segments. Banking segment is engaged in the deposits, loans, domestic exchange and foreign exchange. Leasing segment is engaged in the provision of leasing properties ranging from office equipment to large industrial equipment and automobiles for customers. The Company is also engaged in the provision of credit guarantee business, real estate leasing and management business, software development business, credit card business, employment service and securities business.