ZENKOKU HOSHO Co.,Ltd. completed the acquisition of Tsukuba Shinyo Hosho K.K. from Tsukuba Bank, Ltd..
March 21, 2021
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ZENKOKU HOSHO Co.,Ltd. (TSE:7164) agreed to acquire Tsukuba Shinyo Hosho K.K. from Tsukuba Bank, Ltd. (TSE:8338) for ¥5.7 billion on February 15, 2021. Under the terms, ZENKOKU HOSHO will acquire 81,800 shares of Tsukuba Shinyo Hosho. The transaction is expected to close on March 31, 2021. The effect of the acquisition on the business results for the fiscal year ending March 31, 2021, is immaterial.
ZENKOKU HOSHO Co.,Ltd. (TSE:7164) completed the acquisition of Tsukuba Shinyo Hosho K.K. from Tsukuba Bank, Ltd. (TSE:8338) on March 21, 2021.
ZENKOKU HOSHO Co., Ltd. is mainly engaged in the operation of credit guarantee business. The Companyâs guarantee products comprise three categories. The housing loan guarantees are its core products, which can meet the diverse needs of customers, such as housing acquisition funds and refinancing funds, and renovation funds and others. It acquires guarantee fees from guarantee requesters through the classification by collateral valuation and other requirements such as annual income and years of service. Education loan guarantee products guarantee the borrowings of education funds, which deal with term loans, overdraft and other formats. About the use of funds, it deals with tuition fees, exam costs and others. The apartment loan guarantee products guarantee the borrowings of construction costs of rental housing.