The Toho Bank, Ltd. completed the acquisition of an additional 45% stake in Toho Card Co.,Ltd. from Fukushima Shoji Co., Ltd. and JCB Co., Ltd.
April 01, 2015 at 05:00 am
Share
The Toho Bank, Ltd. (TSE:8346) agreed to acquire an additional 45% stake in Toho Card Co.,Ltd. from Fukushima Shoji Co., Ltd. and JCB Co., Ltd for approximately ¥660 million on March 27, 2015. Toho Bank will acquire 270 shares in the transaction. In related deals, The Toho Bank, Ltd. (TSE:8346) agreed to acquire additional stakes in 4 more companies. Post transaction, The Toho Bank, Ltd. will hold 50% in Toho Card Co.,Ltd. Toho Card had net assets of ¥3.1 billion, total assets of ¥5.44 billion, sales of ¥933 million, operating profit of ¥406 million and net income of ¥255 million for the year ending March 2014. The Toho Bank's Board of Directors passed a resolution for the transaction. The conclusion of the share transfer contract is scheduled on April 1, 2015, while the share acquisition is scheduled on April 6, 2015.
The Toho Bank, Ltd. (TSE:8346) completed the acquisition of an additional 45% stake in Toho Card Co.,Ltd. from Fukushima Shoji Co., Ltd. and JCB Co., Ltd 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. 
