The Board of Directors of Hoshizaki Corporation has resolved to acquire additional shares of ASIA REFRIGERATION INDUSTRY JOINT STOCK COMPANY (“ARICO”), a consolidated indirect subsidiary, through our consolidated subsidiary HOSHIZAKI SOUTHEAST ASIA HOLDINGS PTE. LTD. (“HSHD”).
As a result of this transaction, our ownership interest in ARICO will increase from 51% to 99.616%.
Further details: See here