Tomato Bank, Ltd. cancelled the acquisition of remaining 60.5% stake in Tomato Lease Co., Ltd. from a group of sellers.
October 23, 2019
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Tomato Bank, Ltd. (TSE:8542) agreed to acquire remaining 60.5% stake in Tomato Lease Co., Ltd. from a group of sellers for approximately ¥590 million on October 23, 2018. Pre deal, Tomato Bank, Ltd. held 39.5% stake and post completion, it will hold 100% stake in Tomato Lease Co., Ltd. Upon completion, Tomato Lease Co., Ltd. will operate as a wholly owned subsidiary of Tomato Bank, Ltd. For the year ending March 2018, Tomato Lease Co., Ltd. reported total assets of ¥14.2 billion, net assets of ¥974 million, sales of ¥4.4 billion, operating profit of ¥48 million and net income of ¥40 million. The deal was resolved by the Board of Directors of Tomato Bank, Ltd. on October 23, 2018. The tentative conclusion of the share transfer contract is January 7, 2019 and the tentative share transfer date for the deal is January 11, 2019.
Tomato Bank, Ltd. (TSE:8542) cancelled the acquisition of remaining 60.5% stake in Tomato Lease Co., Ltd. from a group of sellers on October 23, 2019.
Tokyo Century Corp is a Japan-based company mainly engaged in financial business. The Company operates in four business segments. Domestic Leasing segment is engaged in leasing and financing of information and communication equipment, office equipment, industrial machine tools, transportation equipment, and equipment for commercial and service industries. Domestic Automobile segment is engaged in auto leasing, rental cars, and car sharing businesses for corporations and individuals. Specialty segment is engaged in domestic and overseas leasing and financing of products such as ships, aircraft, real estate, environment and energy. International segment is engaged in leasing and financing mainly in East Asia and Association of Southeast Asian Nations, North America, and Latin America. The Company is also engaged in non-life insurance agency business and outsourced office work.