Gyet to Buy United Arrows Subsidiary Coen for 200 Million Yen

MT Newswires Live01-29

Gyet (TYO:7603) said its board approved the acquisition of all shares of Coen Co., a United Arrows (TYO:7606) subsidiary, making the apparel brand a wholly owned subsidiary, according to a Thursday filing on the Tokyo Stock Exchange.

Gyet will buy 2,000 shares for 200 million yen, with the transaction set to close March 2. The deal assumes United Arrows will waive about 5.7 billion yen in debt owed by Coen.

Coen, founded in 2008, plans, makes and sells apparel. Gyet said it will aim to rebuild the brand by combining its capabilities in digital technology, AI, logistics and store operations, alongside partner GF Holdings' logistics and e-commerce networks.

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