越智産業, which is based in Kyushu, will make TOSO a wholly owned subsidiary. The decision was officially finalized effective 10 July, and the group structure is expected to be strengthened.
越智産業 was established in 1958 and has capital of ¥654 million and 338 employees. As a Fukuoka Stock Exchange-listed company, it has expanded its business primarily in Kyushu.
The company has pursued an active M&A strategy and expanded its business into the Chugoku, Shikoku and Kansai regions. The latest announcement confirms that TOSO will become its wholly owned subsidiary.
The decision was officially finalized effective 10 July, and TOSO is expected to be positioned as a group company going forward.