After trading ended on the 19th, Lynet Japan announced a capital and business alliance with 3 major industry players: JX Metals Circular Solutions, SG Holdings and PCS Wireless. The company expects to raise up to approximately ¥5.448 billion through a third-party allotment of new shares and stock acquisition rights.
After trading ended on the 19th, Lynet Japan announced a capital and business alliance with JX Metals Circular Solutions, SG Holdings and PCS Wireless. Through the third-party allotment of new shares and stock acquisition rights, the company will raise funds. The amount raised is expected to be up to approximately ¥5.448 billion.
The funds are scheduled to be used to build a nationwide collection platform, expand the handling of used IT equipment and support business expansion through M&A and other initiatives. The company aims to expand its reuse and recycling business by leveraging the partners' recycling technologies, logistics networks and overseas sourcing networks for devices.
The move is intended to expand Lynet Japan's business in the reuse and recycling sector and is viewed as part of efforts to advance the business by strengthening capital ties. Attention is expected to focus on future developments and specific initiatives.