Honda Motor Co., Ltd. cancelled the acquisition of finished car business from Yachiyo Industry Co., Ltd..
For the financial year ended March 2017, Yachiyo Industry Yokkaichi Seisakusho Co., Ltd. had sales of ¥36.57 billion and total assets of ¥8.95 billion. The Board of Directors of Yachiyo Industry Co., Ltd. resolved the transaction on October 4, 2017. As on December 18, 2017, the Board of Yachiyo Industry Co., Ltd. approved the transaction. Yachiyo Industry Co., Ltd.'s Board of Directors established an independent committee comprising, Katsuya Natori, Shigeru Matsuda and Junjiro Shintaku. Shinichi Yoshiyama will become the Representative Director and President of Yachiyo Industry Yokkaichi Seisakusho Co., Ltd. The transaction is expected to be completed by April 2, 2017. Abe Ikubo & Katayama acted as a legal advisor for Yachiyo Industry Co., Ltd.
Honda Motor Co., Ltd. (TSE:7267) cancelled the acquisition of finished car business from Yachiyo Industry Co., Ltd. (JASDAQ:7298) on October 4, 2018.