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Marubeni to Transfer All Shares Issued by Tsunagu Network to Arteria

Source: www.gulfoilandgas.com 3/22/2017, Location: Asia

Marubeni Corporation (Head office: Chuo-ku, Tokyo; President and CEO: Fumiya Kokubu, hereinafter “Marubeni”) has agreed with ARTERIA Networks Corporation (Head office: Minato-ku, Tokyo; President and CEO: Tomitaro Anzai, 50% investment by Marubeni Group, hereinafter “ARTERIA”) that Marubeni will transfer all shares issued by TSUNAGU NETWORK COMMUNICATIONS INC. (President: Kazuo Ishizuka, 60% investment by Marubeni, hereinafter “TNC”), a subsidiary of Marubeni which has been providing internet access services for condominiums that employs a lump sum subscription for all dwelling units, to ARTERIA. This deal was approved at a meeting of the Board of Directors at TNC. TNC is to be a subsidiary of ARTERIA.

As of March 2016, ARTERIA and TNC are the largest and third largest companies, respectively, in the industry of internet access services for condominiums in Japan according to a survey by MM Research Institute, Ltd. With this deal, ARTERIA and TNC aim to provide additional services for their more than 500,000 combined customers and strengthen their competitive advantage. ARTERIA will also consider to improve its business efficiency and to accelerate the realization of its competitive service by strengthening collaboration with TNC in the future by integrating TNC’s internet access service business for condominiums into its business model.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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