SYMPHONY HOLD (01223) plans to acquire the remaining 15% equity of New Itoh for $600,000.

SYMPHONY HOLD (01223) announced on February 25, 2025, that the company (as the buyer) intends to purchase 15% of the newly issued shares of Itochu (as the seller) for $600,000, to be paid in cash by the company upon completion or earlier. As of the date of this announcement, the new Itochu is a non-wholly-owned subsidiary of the company, with the company and Itochu holding 85% and 15% equity, respectively. Upon completion, the company will hold 100% equity in the new Itochu, making it a wholly-owned subsidiary of the company. The new Itochu has a robust and extensive sales and distribution network. Since the establishment of the joint venture business of the new Itochu in December 2020, the new Itochu has provided the group with a large supply chain network, facilitating logistics and inventory monitoring, and providing effective sales channels for the "SKINS" products. Looking ahead, with the comprehensive control of the new Itochu through the acquisition, the company intends to further strengthen the "SKINS" business. The Board believes that the acquisition will enable the group to have full control of the new Itochu group and enhance operational efficiency.