SHIFT announced a basic agreement with TOKYO GAS CO.,LTD. to establish an investment limited partnership (second-tier subsidiary) through a joint investment totaling ¥15 billion.
SHIFT and TOKYO GAS CO.,LTD. entered into a basic agreement based on a policy of jointly establishing an investment limited partnership (second-tier subsidiary). The total investment will be ¥15 billion, and the two companies will develop the framework based on specific terms including their respective investment ratios. Practical procedures, including the execution of definitive agreements and determination of the organisational structure, are expected to be considered going forward.
The transaction is intended to enable the two companies to jointly consider and execute specific investment opportunities through an investment structure in the form of an investment limited partnership. It is understood that the companies intend to integrate and expand related businesses by making them a second-tier subsidiary.