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Kintetsu Corp Announces Group Structure Change


Monday, 25 Feb 2013 12:00am EST 

Kintetsu Corp announced that it has decided to establish a wholly owned subsidiary, which will be a holding company for six group taxi companies, through company split effective April 25, 2013. The Company will also fully acquire a Kitakyushu-based company through stock swap, and increase its stake in the Kitakyushu-based company from a 25% stake to a 100% stake, effective July 25, 2013. One share of the Kitakyushu-based company, which is engaged in general passenger transportation business, will be exchanged for 8.6 shares of the Company. After the transaction, the Kitakyushu-based company will also be a wholly owned subsidiary of the newly established holding company. 

Company Quote

421.0
-1.0 -0.24%
29 Jan 2015