Merida Industry Co.,Ltd. (TSEC:9914) agreed to acquire 25% stake in MIYATA CYCLE Co.Ltd. from Morita Holdings Corporation (TSE:6455) for ¥82.8 million on June 25, 2019. For the year ended March 31, 2019, MIYATA CYCLE had net assets of ¥324 million, total assets of ¥1.4 billion, revenues of ¥2.5 billion, operating profit of ¥6 million and net income of ¥3 million. The transaction has been approved by the Board of Directors of Morita Holdings. The transaction is expected to be completed by July 1, 2019.

Merida Industry Co.,Ltd. (TSEC:9914) cancelled the acquisition of 25% stake in MIYATA CYCLE Co.Ltd. from Morita Holdings Corporation (TSE:6455) on June 25, 2020.