Inui Warehouse Co., Ltd. (TSE:9308) signed a merger agreement to acquire remaining 98.27% stake of Inui Steamship Co., Ltd. (TSE:9113) from Mitsui OSK Lines Ltd. (TSE:9104), Kanko Kaiun K.K., Tokio Marine Asset Management Co., Ltd. and other shareholders for ¥9.1 billion in stock on May 12, 2014. Under the terms, Inui Warehouse will issue its 0.35 share for each share of Inui Steamship. The combined entity will be known as Inui Global Logistics Co., Ltd and Yasuyuki Inui, President of Inui Warehouse, will become the President of the combined entity. Takashi Inui will become the Director and Kazuo Yuasa, Hirohito Kuse, Kiyotaka Kawasaki will become the External Directors of Inui Global Logistics. Tatsuo Utsui, Masato Tanaka and Koichiro Takahashi will become the auditors of Inui Global Logistics. Takashi Inui will lead the Ocean-shipping business, Yasuyuki Inui will lead the Warehouse business and Kenji Abe will head over the corporate affairs of Inui Global Logistics.

The transaction is subject to approval of shareholders of both, Inui Warehouse (scheduled on June 20, 2014) and Inui Steamship (scheduled on June 26, 2014). The Boards of both, Inui Warehouse and Inui Steamship passed the resolution regarding the transaction on May 12, 2014. The transaction is expected to close on October 1, 2014. As on June 20, 2014, the transaction was approved by the shareholders of Inui Warehouse and Inui Steamship. SMBC Nikko Securities Inc. acted as 3rd party calculation agent for Inui Steamship and Nomura Securities Co., Ltd. acted as 3rd party calculation agent for Inui Warehouse.

Inui Warehouse Co., Ltd. (TSE:9308) completed the acquisition of remaining 98.27% stake of Inui Steamship Co., Ltd. (TSE:9113) from Mitsui OSK Lines Ltd. (TSE:9104), Kanko Kaiun K.K., Tokio Marine Asset Management Co., Ltd. and other shareholders on September 26, 2014.