Tohbu Network Co., Ltd. agreed to acquire Tohoku Sanko, K.K. from individuals.
March 25, 2022
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Tohbu Network Co., Ltd. (TSE:9036) agreed to acquire Tohoku Sanko, K.K. from individuals on March 25, 2022. As per the transaction, Tohbu Network Co., Ltd. will acquire 600 shares representing 100% stake of Tohoku Sanko, K.K. Post completion, Tohoku Sanko, K.K. will become wholly owned subsidiary of Tohbu Network Co., Ltd. The Board of Directors has passed the resolution for the transaction. The agreement is planned to sign on March 30, 2022 while completion is planned for April 15, 2022.
The impact of the transaction on business will be minor.
TOHBU NETWORK CO.,LTD. is a Japan-based company mainly engaged in freight truck transport, merchandise sale, real estate leasing and other businesses. The Company operates through four business segments. The Lorry Transportation segment is engaged in the development of transportation network from the Tohoku region to the Kinki region, as well as the provision of transportation services for various products. In addition, the Company provides bulk ordering services such as cargo storage operations and distribution center operations according to customer demand. The Merchandise Sale segment is mainly engaged in the sale and leasing of petroleum products, cement and vehicles. The Real Estate Leasing segment provides various rental commercial facilities such as rental office buildings and distribution centers. The Other segment is involved in car maintenance, dispatching and non-life insurance agency business.
TOHBU NETWORK CO., LTD. 
