H.I.S. has announced that its subsidiary, Cross E Holdings, will fully acquire Kyo-shin Electric Industrial as a wholly-owned subsidiary.
Kyo-shin Electric Industrial was founded in 1946 and is headquartered in Sasebo City, Nagasaki Prefecture. It employs many mid-level workers who are qualified as first-class electrical construction management engineers and specializes in receiving public construction orders. Additionally, it owns and operates nine solar power plants, primarily in the northern part of Nagasaki Prefecture. For the fiscal year ending May 2024, Kyo-shin Electric Industrial reported sales of 531 million yen, operating profit of 29 million yen, and net profit of 21 million yen, with net assets of 319 million yen.
Cross E Holdings’ two business subsidiaries have been responsible for machinery installation and maintenance at waste treatment facilities, as well as facility management at Huis Ten Bosch and other public facilities for many years. As part of its next growth strategy, it aims to enter the electrical construction and telecommunication construction markets in Nagasaki Prefecture.
The acquisition amount is 420 million yen, with all shares being acquired from six individual shareholders. The contract signing is scheduled for September, with the share transfer set for October 1.
