RENOVA, Inc. (TSE:9519) acquired additional 31% stake in Morinomiyako Biomass Energy G.K. from Mizuho Leasing Company, Limited (TSE:8425) for ¥1.6 billion on December 8, 2023. Prior to this transaction, RENOVA held a 29% stake in Morinomiyako Biomass Energy and post-closing, its ownership stake will increase to a 60%. As of FY ending March, 2023, Morinomiyako Biomass Energy G.K. reported net assets of ¥7.1 billion, total assets of ¥46.8 billion, operating loss of ¥9 million and net loss of ¥5 million.
RENOVA, Inc. (TSE:9519) completed the acquisition of additional 31% stake in Morinomiyako Biomass Energy G.K. from Mizuho Leasing Company, Limited (TSE:8425) on December 8, 2023.