Daiwa Motor Transportation Co., Ltd. entered into an agreement to acquire Miyazono Koyu Co., Ltd from Miyazono Jidosha Co., Ltd. for approximately ¥100 million.
May 12, 2022
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Daiwa Motor Transportation Co., Ltd. (TSE:9082) entered into an agreement to acquire Miyazono Koyu Co., Ltd from Miyazono Jidosha Co., Ltd. for approximately ¥100 million on May 13, 2022. Consideration will be paid in the form of issue of one common share of Daiwa for every 3.1726 shares of Miyazono. The transaction is subject to approval by Miyazono shareholders at the Ordinary General Meeting of Shareholders scheduled to be held on June 24, 2022. The transaction has been approved by Board of Directors of Daiwa and Miyazono. The transaction is expected to close on July 1, 2022.
Daiwa Motor Transportation Co., Ltd. is a Japan-based company principally engaged in passenger car transportation business, real estate business, as well as fuel and materials sale business. The Company also develops business activities, such as the sale of automobile meter devices related to each business, as well as the manufacture and sale of metal products. The Company operates in three business segments. Passenger Car Transportation segment is involved in hired car business, operation management business and taxi business. Real Estate segment is involved in the provision of leasing, trading, brokerage, management and cleaning services. Sale segment is involved in the sale of fuel and materials, the manufacture and sale of metal products, as well as the sale and repair of automobile meters.
Daiwa Motor Transportation Co., Ltd. entered into an agreement to acquire Miyazono Koyu Co., Ltd from Miyazono Jidosha Co., Ltd. for approximately ¥100 million.
DAIWA MOTOR TRANSPORTATION CO., LTD. 
