Motion, Inc.. announced that it expects to receive funding from Daiwa Motor Transportation Co., Ltd.
June 13, 2017
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Motion, Inc. announced that it has singed basic agreement to acquire funding from new investor Daiwa Motor Transportation Co., Ltd. (TSE:9082) on June 14, 2017. Post the closing of the transaction, the investor will hold 20% stake in the company through capital increase. There has been corporate resolution from investor and company on June 14, 2017. The company reported net assets of ¥50,090,000, total assets of ¥160,240,000, revenue of ¥139,607,000, operating profit of ¥8,970,000, current profit of ¥25,481,000, and net income of ¥1,136,000 for the year ended March 2017.
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. 
