TOKYO, Mar 19 (Pulse News Wire) – Park24 CO.,LTD. (4666.T) decided to sell its entire stake in TIMES24 SINGAPORE PTE.
LTD. during today's board meeting. The sale is expected to result in a special loss of 2017 million yen in the second quarter of the fiscal year ending October 2026. The transaction is set to close on April 28, 2026. TIMES24 SINGAPORE was established in March 2007 and operates parking facilities in Singapore.
In 2022, the company changed its brand name from “Secure Parking” to “Times.” However, due to upcoming regulatory changes requiring significant investment in new payment systems, Park24 determined the investment would not meet its long-term growth objectives and opted to divest. Under the agreement, Park24 will transfer its shares to Re Sustainability Solutions Pte Ltd, which was founded in September 2017. The buyer’s capital stands at ¥7.8 million Singapore dollars. Financial details of the transaction remain confidential but are deemed fair based on negotiations. As a result of the sale, TIMES24 SINGAPORE will be delisted from Park24’s consolidated financial statements effective from the second quarter of the fiscal year ending October 2026.
The special loss has been incorporated into the revised earnings forecast released on March 17, 2026.
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