Tsuruha Holdings Inc. completed the acquisition of remaining 49% stake in Drug Eleven Co.,Ltd. from Kyushu Railway Company.
May 30, 2023
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Tsuruha Holdings Inc. (TSE:3391) entered into a share transfer agreement to acquire remaining 49% stake in Drug Eleven Co.,Ltd. from Kyushu Railway Company (TSE:9142) on April 28, 2023. As part of transaction, 1,558,327 shares will be acquired. Prior to the execution of that transaction, JR Kyushu expects to transfer 1,000,000 of the shares to Drug Eleven. As a result, Tsuruha Holdings is expected to acquire 100% of the voting rights in Drug Eleven. For period ended May 15, 2022, Drug Eleven reported net assets of ¥7.8 billion, total assets of ¥21.8 billion, net sales of ¥44 billion, operating income of ¥408 million and net income of ¥23 million. The transaction is expected to complete in May 31, 2023.
Tsuruha Holdings Inc. (TSE:3391) completed the acquisition of remaining 49% stake in Drug Eleven Co.,Ltd. from Kyushu Railway Company (TSE:9142) in May 2023.
Kyushu Railway Company is a Japan-based company mainly engaged in transportation, construction, station buildings and real estate, distribution and food business, as well as other business around Kyushu in Japan. The Company operates in four business segments. The Transportation segment operates railway business, bus business, marine business and car rental business. The Construction segment operates construction business, vehicle mechanical equipment engineering business, and electrical construction business. The Real Estate and Hotel segment engages in leasing and sale of real estate, parking lot operation, senior business, hotel business and operation of complex tourism facilities. The Distribution and Food segment engages in retail industry, catering industry and agriculture industry.