Jiangsu Zhongxin Resourses Group Co., Ltd signed a contract to acquire 91.6% stake in Jiangyin Nikke Worsted Spinning Co., Ltd. from The Japan Wool Textile Co., Ltd. for ¥70 million.
January 10, 2019
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Jiangsu Zhongxin Resourses Group Co., Ltd signed a contract to acquire 91.6% stake in Jiangyin Nikke Worsted Spinning Co., Ltd. from The Japan Wool Textile Co., Ltd. (TSE:3201) for ¥70 million on January 11, 2019. Board of The Japan Wool Textile resolved in favor of the deal on the same date. Deal is expected to close by the end of March 2019.
Japan Wool Textile Co Ltd is a Japan-based company mainly engaged in the human and future development business, textile and clothing materials business and industrial machinery and materials business. It has four business segments. Human and Future Development segment is engaged in the development, leasing and operation of shopping centers, the construction, sales and rental of real estate, the operation of sports facilities. Textile and Clothing Materials segment provides wool and uniform textile materials and products. Industrial Machinery and Materials segment is engaged in the manufacture, processing and sale of textile material products such as nonwoven fabrics and felts, the manufacture and sale of tennis and badminton gut, fishing line and other industrial materials. Consumer Goods and Services segment provides blankets, bedding products, interior products, hand-knitted wool, harness and riding equipment, and the wholesale of household goods. It also sells medical equipment.
Jiangsu Zhongxin Resourses Group Co., Ltd signed a contract to acquire 91.6% stake in Jiangyin Nikke Worsted Spinning Co., Ltd. from The Japan Wool Textile Co., Ltd. for ¥70 million.
THE JAPAN WOOL TEXTILE CO., LTD. 
