The Toho Bank, Ltd. completed the acquisition of an additional 45% stake in The Toho Credit Service Co., Ltd. from Sumitomo Mitsui Card Co., Ltd., Fukushima Shoji Co., Ltd. and others.
April 01, 2015 at 12:00 am
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The Toho Bank, Ltd. (TSE:8346) agreed to acquire an additional 45% stake in The Toho Credit Service Co., Ltd. from Sumitomo Mitsui Card Co., Ltd., Fukushima Shoji Co., Ltd. and others for approximately ¥180 million on March 27, 2015. Under the terms of the deal, 270 shares will be acquired. Post transaction, The Toho Bank, Ltd. will hold 50% stake in The Toho Credit Service. In a related deal, The Toho Bank, Ltd. agreed to acquire stakes in four other companies on March 27, 2015. For the period ended March 2014, The Toho Credit Service had net assets of ¥1.39 billion, total assets of ¥2.8 billion, sales of ¥525 million, operating profit of ¥75 million and net income of ¥83 million. The tentative share transfer contract date is April 1, 2015 and share acquisition date is April 6, 2015.
The Toho Bank, Ltd. (TSE:8346) completed the acquisition of an additional 45% stake in The Toho Credit Service Co., Ltd. from Sumitomo Mitsui Card Co., Ltd., Fukushima Shoji Co., Ltd. and others on April 1, 2015.
The Toho Bank, Ltd. is a Japan-based bank mainly engaged in the provision of financial services. The Banking segment is engaged in deposit affairs, loan business, exchange business and other related business. The Bank is also engaged in the development of electronic computer software, the printing and binding of ledger sheets, as well as securities, leasing, credit card and credit guarantee business.
The Toho Bank, Ltd. completed the acquisition of an additional 45% stake in The Toho Credit Service Co., Ltd. from Sumitomo Mitsui Card Co., Ltd., Fukushima Shoji Co., Ltd. and others.
THE TOHO BANK, LTD. 