Aktio in takeover bid for Kyosei Rentemu

Japanese rental giant Aktio has made a takeover bid for its smaller rival Kyosei Rentemu, according to stock exchange filings.

A decision is due in September on Aktio’s move to increase its shareholding in Kyosei from its already majority position of 20.4% to 100%, and delist Kyosei from the Tokyo stock exchange. Kyosei said it had recommended accepting the offer to its other shareholders.

Aktio is the largest of the ‘big four’ Japanese rental houses, which also include Kanamoto, Nishio Rent All and Nikken. It ranked fourth overall in this year’s IRN100 ranking of the largest rental companies in the world with rental revenues of €1.5 billion (based on 2015 financial year), while Kyosei Rentemu reached 62^nd position with 2015 rental revenues of €166 million.