The Bank of Saga Ltd. cancelled the acquisition of Sagin Lease Co., Ltd. from a group of sellers.
November 08, 2018
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The Bank of Saga Ltd. (TSE:8395) agreed to acquire the remaining 90% stake in Sagin Lease Co., Ltd. from a group of sellers for ¥3.5 billion on November 8, 2017. Bank of Saga Ltd. will acquire the remaining 54,000 shares as part of the transaction. In related transactions, The Bank of Saga Ltd. agreed to acquire remaining stakes in Sagin Business Consulting Co., Ltd., Sagin Shinyo Hosho Co., Ltd., Sagin Capital & Consulting Co., Ltd., and Sagin Computer Service Co., Ltd. Upon completion, Sagin Lease Co., Ltd. will become wholly owned subsidiary of The Bank of Saga Ltd. Sagin Lease Co., Ltd. had total assets of ¥19.5 billion, net assets of ¥5.9 billion, revenue of ¥7.7 billion, operating profit of ¥206 million and net income of ¥149 million for the financial year ending March 31, 2017. The transaction was resolved by the Board of Directors of The Bank of Saga, Ltd. on November 8, 2017. The share transfer contract for the transaction is expected to be signed on November 17, 2017. The transaction is expected to complete between November 20, 2017 and November 22, 2017.
The Bank of Saga Ltd. (TSE:8395) cancelled the acquisition of Sagin Lease Co., Ltd. from a group of sellers on November 8, 2018.
Mizuho Leasing Company, Limited, formerly IBJ Leasing Company, Limited, is mainly engaged in lease, installment sales and various financial transactions for industrial machinery, transportation equipment, information-related equipment. The Company operates in three business segments. The Leasing and Installment segment is engaged in the installment sales business of leasing operations (including expiration of lease transactions and property sales due to halfway cancellation) and production facilities, construction earthmoving machines, commercial facilities etc. for industrial machine tools, transportation equipment, information related equipment. The Finance segment is involved in corporate finance, ship financing, factoring business and investment business of securities owned to earn profits for business purpose. The Others segment is engaged in used property buying and selling, solar power selling business.
MIZUHO LEASING COMPANY, LIMITED 