IHI (TYO:7013) will transfer its turf care machinery business, currently held by IHI Agri-Tech, to a new company, according to a Monday filing on the Tokyo Stock Exchange.
The move is part of IHI's strategy to focus on growth sectors and streamline its portfolio, the filing said.
The shares of the new entity will then be sold to Kyoeisha. The transfer, planned for mid-2025, aims to enhance global expansion through synergies with Kyoeisha, a company with experience in lawn care machinery, according to the filing.
Price (JPY): $8313.00, Change: $-220, Percent Change: -2.53%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments