IHI to Transfer Turf Care Business to Kyoeisha

MT Newswires Live

2024/11/26

IHI (TYO:7013) will transfer its turf care machinery business, currently held by IHI Agri-Tech, to a new company, according to a Monday filing on the Tokyo Stock Exchange.

The move is part of IHI's strategy to focus on growth sectors and streamline its portfolio, the filing said.

The shares of the new entity will then be sold to Kyoeisha. The transfer, planned for mid-2025, aims to enhance global expansion through synergies with Kyoeisha, a company with experience in lawn care machinery, according to the filing.

Price (JPY): $8313.00, Change: $-220, Percent Change: -2.53%

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