J Trust Co., Ltd. completed the acquisition of Nexus Bank Co., Ltd.
April 29, 2022
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J Trust Co., Ltd. (TSE:8508) agreed to acquire Nexus Bank Co., Ltd. (JASDAQ:4764) for ¥6 billion on January 12, 2022. 0.20 shares of JT common stock will be allotted and delivered for 1 share of NB common stock. 10,867,860 JT common stock will be delivered through the Share Exchange. Post completion Nexus Bank Co., Ltd. will be removed from the Index and The shares of J Trust Co., Ltd will be increased according to the stock terms of the transaction. Nexus Bank Co.,Ltd will become wholly owned subsidiary of J Trust Co.,Ltd after completion. The transaction is subject to approval of Shareholders of Nexus Bank by a resolution of the Ordinary General Meeting of Shareholders scheduled to be held on March 15, 2022. The common stock of NB will be delisted on March 30, 2022. The Share Exchange is scheduled to take effect on April 1, 2022. NB has selected TMI Associates as a legal advisor and has received legal advice on the method and process of determining the opinions of the Board of Directors, including the procedures for the Share Exchange. In addition, NB requested TMI Associates, a legal advisor, to carry out legal due diligence for JT, and EY Strategy Consulting Co., Ltd. to carry out financial due diligence for JT. JT has assigned Akasaka International Accounting Co., Ltd. and NB assigned Minamiaoyama FAS Corporation for the calculation.
J Trust Co., Ltd. (TSE:8508) completed the acquisition of Nexus Bank Co., Ltd. on April 30, 2022.
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.