VI Financial Investment Co., Ltd agreed to acquire JT Savings Bank Co., Ltd from J Trust Co., Ltd..
April 05, 2021
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VI Financial Investment Co., Ltd agreed to acquire JT Savings Bank Co., Ltd from J Trust Co., Ltd. (TSE:8508) on April 5, 2021. JT Savings Bank Co., Ltd reported total assets of KRW 155.18 billion, total common equity of KRW 13.92 billion, EBIT of KRW 12.53 billion and net income of KRW 2.12 billion for the year December 31, 2020. JT Capital Co deal is expected to be completed by June 15, 2021.
The transaction is expected to close at the end of August 2021.
J Trust Co Ltd is a Japan-based company mainly engaged in Japan finance business, Korea and Mongolia finance business, Southeast Asia finance business, real estate business, and investment business. The Company operates in five business segments. The Japan Finance segment consists of credit guarantee services, debt collection services, credit and consumer credit services, securities services, and other financial services. The Korea and Mongolia Financial segment consists of savings banking, debt collection, and financial services. The Southeast Asia Finance segment includes banking and debt collection services. The Real Estate segment consists of real estate development, subdivision, and sales of single-family houses, design and construction of detached houses, real estate leasing, and real estate rental management. The Investment segment consists of domestic and overseas investment operations. The Company is also engaged in system business.