Seino Holdings Co (JP:9076) has released an update.
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Seino Holdings Co. has acquired a majority stake of 66.6% in Mitsubishi Electric Logistics Corporation, which is now renamed MD LOGIS CORPORATION and functions as a Seino subsidiary and an equity-method affiliate of Mitsubishi Electric. The significant share transfer and subsequent renaming reflect a strategic move in Seino’s expansion within the logistics sector. The financial impact of these changes on Seino and Mitsubishi Electric’s consolidated financial results is under review, with updates to be announced if necessary.
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