Ichinen Holdings Co., Ltd. acquired Shinko Glass Industry Co.,Ltd.
October 01, 2021
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Ichinen Holdings Co., Ltd. (TSE:9619) acquired Shinko Glass Industry Co.,Ltd. from consortium of sellers on October 1, 2021. As part of the transaction, Ichinen acquired 100,000 shares in Shinko. Ichinen acquired 33.8% stake from Shinko Glass Industry Futaba Shareholding Association, 20% from Fushiki Kairiku Unso Co.,Ltd. (TSE:9361), 15% from Sadao Uesugi, 12% from Nagoya Small and Medium Business Investment & Consultation Co., Ltd. and remaining stake in Shinko from others. For the year ended March 2021, Shinko reported Net assets of ¥1.7 billion, Total assets of ¥2.1 billion, Sales of ¥0.9 billion, Operating profit of ¥12.8 million and Net profit of ¥36.3 million.
Ichinen Holdings Co., Ltd. (TSE:9619) completed the acquisition of Shinko Glass Industry Co.,Ltd. on October 1, 2021.
Ichinen Holdings Co Ltd is engaged in the car leasing related business. The Company operates through five business segments. The Car Leasing Related segment is engaged in the leasing of automobiles, equipment and other movable properties, the rental business and the disposal of expired leasing cars and the entrusted automotive maintenance business, among others. The Chemical segment manufactures and sells chemical products for automobile, machinery and equipment and industrial uses. The Parking segment operates client parking lots and coin-operated parking lots. The Machine Tool Sales segment sells machine tools, automotive maintenance tools, air conditioning tools and measuring tools, among others. The Synthetic Resin segment is engaged in the design, manufacture and sale of synthetic resin products. It is also engaged in the production and sales of agricultural products, leasing and management of properties, as well as the manufacture and sale of processed glass products.
ICHINEN HOLDINGS CO.,LTD. 
