Rengo Co., Ltd. announces that its Board of Directors has decided to acquire 50% of shares issued by Kinyosha Printing Co., Ltd., making Kinyosha Printing a Rengo subsidiary. Additionally, Howa Sangyo Co., Ltd., a wholly owned subsidiary of Rengo, will also acquire 20% of the shares issued by Kinyosha Printing, bringing the total investment ratio of the Rengo Group to 70%.
This acquisition of shares of Kinyosha Printing by Rengo and Howa Sangyo is scheduled to be completed in March of 2021. This acquisition of shares is subject to the approval pertaining to the Antimonopoly Act.
Kinyosha Printing has printing and manufacturing bases in Japan for media packaging products by offset and digital printing, and boasts the top share in the domestic market in the entertainment-related field. The company also engages in manufacturing and sales of flexible packaging products such as food packaging and beverage labels using environmentally friendly, water-based flexo printing.
Source: Lesprom Network