Kyokuto Kaihatsu Kogyo Co.,Ltd. cancelled the acquisition of 45% stake in FE-ONE Co., Ltd. from Truck-One Co., Ltd..
June 20, 2020
Share
Kyokuto Kaihatsu Kogyo Co.,Ltd. (TSE:7226) entered into a basic agreement to acquire 45% stake in FE-ONE Co., Ltd. from Truck-One Co., Ltd. (FKSE:3047) on June 21, 2019. As per the agreement, Truck-One shall transfer 4,050 shares in FE-ONE. Presently, FE-ONE is held as to 45% by Truck-One and 55% by FEE Co., Ltd., subsidiary of Kyokuto Kaihatsu Kogyo. Post completion, Truck-One shall hold no stake in FE-ONE. For the fiscal year ended March 31, 2019, FE-ONE reported net assets of ¥232 million and total assets of ¥705 million. The scheduled share transfer date shall be June 25, 2019.
Kyokuto Kaihatsu Kogyo Co.,Ltd. (TSE:7226) cancelled the acquisition of 45% stake in FE-ONE Co., Ltd. from Truck-One Co., Ltd. (FKSE:3047) on June 21, 2020.
TRUCK-ONE CO., LTD. is a Japan-based company mainly engaged in the commercial vehicles related and transportation related businesses. The Company operates in two business segments. The Commercial Vehicles Related segment engages in sales of trucks, dump cars, special vehicles (cement mixer trucks, freezing cars, tank cars, in-vehicle cars and vehicles for work at height set), releases freezing cars and freezing containers, as well as in the inspection, maintenance and repair of cars. The Transportation segment is engaged in transportation of general freights and fuels through its subsidiaries.