Ant Corp Helps Battered CSK

CSK Holding Corp. reached a basic agreement with Ant Corporate Advisory Co, a Tokyo-based Investment fund, about a capital injection, issuing preferred stock of more than $150 million. CSK incurred a great amount of debt from the real estate business, though it was an information service company. As part of its restructuring, management will focus on improving its balance sheet and getting rid of the real estate division. With help from Ant Corp. whose top shareholder is Sumitomo Corp., CSK plans to achieve the goals mentioned above.