Japan Airlines (JAL) will enter into a capital and business alliance with Lifenet Insurance Company.
JAL will acquire 14,726,100 shares (an 18.32% ownership stake) from au Financial Holdings, representing all of the shares in Lifenet Insurance Company held by au Financial Holdings. As a result, JAL will become the largest shareholder of Lifenet Insurance Company.
In addition to considering the development of insurance products that leverage JAL’s customer base, brand strength, and assets such as mileage points, the companies expect to build a sales structure within the JAL Group for Lifenet Insurance Company’s insurance products.
Subject to conditions such as obtaining authorization as a major shareholder of an insurance company, the acquisition is expected to be completed around late June.
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