TOKYO: Tokai Cable Network Corporation (TCN), the cable television business operator in TOKAI Group, has entered into an agreement to acquire the cable television business operated by Shioya Limited.[the_ad id=”31605″]Since the launch of its cable television business in Shizuoka Prefecture in 1988, TOKAI Group has extended its service area to 6 prefectures: Shizuoka, Tokyo, Kanagawa, Chiba, Nagano, and Okayama. “Currently, we are serving 790,000 broadcasting service customers and 270,000 communications service customers. We have supported people’s comfortable lives by combining broadcasting and communications services. In so doing, we have distributed regional information and provided multi-channel broadcasting rooted in and based on the uniqueness of each region, while providing high-speed communications services using the FTTH network,” a statement said.
Shioya Limited, from which TCN acquires the business, is a cable television operator providing broadcasting services in the areas of Kannami Town in Tagata County, Shimizu Town in Sunto County, Ohira in Numazu City, and Izunokuni City (previously Nirayama Town) in Shizuoka Prefecture. Going forward, TCN will actively make capital investment in these areas to provide high-quality triple play services consisting of broadcasting, communications, and telephone that combine broadcasting and communications services, as well as to take actions for advanced broadcasting such as 4K and 8K broadcasting.
The Company is promoting growth strategies centered on the medium-term management plan Innovation Plan 2020 “JUMP,” whose final year is FY2020. In addition to growth of existing businesses, this plan aims to accelerate growth of the Group through leveraging.
“As a specific strategy, we will actively promote M&A investment totaling 100 billion yen. This transaction is part of that M&A investment plan. We will continue to aggressively pursue M&A and alliance investment in order to expand the revenue base for the core businesses of TOKAI Group, such as gas, cable television, and telecommunications,” the statement added.