J Trust Co., Ltd. completed the acquisition of Mirainovate Co., Ltd. from the group of shareholders ¥13.2 billion.
February 31, 2023
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J Trust Co., Ltd. (TSE:8508) intends to acquire Mirainovate Co., Ltd. (TSE:3528) on October 12, 2022. J Trust Co., Ltd. (TSE:8508) entered into a merger agreement to acquire Mirainovate Co., Ltd. (TSE:3528) from the group of shareholders ¥13.2 billion on November 14, 2022. As per the terms, For every Mirainovate share 0.42 share of J Trust will be issued. J Trust will issue 20,702,934 shares for the merger. Upon completion Mirainovate will be absorbed company and J trust will be the surviving entity. Transaction is expected to close on February 1, 2023. Special committee consist of Toshiya Natori, Akihiro Tozawa, Naoki Ouchi will ensure the fairness for minority shareholders. TMI Associates acted as a legal advisor, Plutus Consulting Co., Ltd. provided the fairness opinion to Mirainovate. Uryu & Itoga acted as a legal advisor, U&I Advisory Service Co., Ltd. provided the fairness opinion to J Trust Co., Ltd. (TSE:8508).
J Trust Co., Ltd. (TSE:8508) completed the acquisition of Mirainovate Co., Ltd. (TSE:3528) on February 1, 2023.
J Trust Co.,Ltd. is a Japan-based holding company mainly engaged in Japan Financial Business, South Korea and Mongolia Financial Business, Southeast Asia Financial Business, General Entertainment Business, Real Estate Business, Investment Business and others. The Company operates in six segments. The Japan Financial segment consists of credit guarantee business, debt collection business, credit and credit sales business and other financial services. The South Korea Financial segment consists of savings banking business, debt collection business and capital business. The Southeast Asia Financial segment consists of banking business, debt collection business and capital business. The General Entertainment segment is engaged in the development, manufacture and sale of computer systems related to game machines and peripheral equipment. The Real Estate segment is engaged in the sales of detached housing and other housing-related business. The Investment segment conducts investment business.