TOKYO, Mar 23 (Pulse News Wire) – Life Intelligent Enterprise Holdings CO.,LTD. (5856.T) announced today that it has halted the planned transfer of its subsidiary, Phoenix Entertainment Tours Co., Ltd., due to deteriorating performance since the agreement was reached.
The company had previously agreed to sell all shares of Phoenix Entertainment Tours but received notice from the representative director, Mr. Koji Meguro, retracting the agreement. The decision to halt the transaction came after negotiations aimed at concluding a share transfer agreement in late February 2026 failed to reach fruition.
According to the company, Phoenix Entertainment Tours' performance fell below expectations, making it difficult to proceed with the originally agreed-upon conditions. As a result of the cancellation, employees and assets related to the travel business will remain within the group. The impact on the company's fiscal year ending March 2026 remains under assessment, and Life Intelligent Enterprise Holdings stated it would disclose the extent of the impact once determined.
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