Ishii Hyoki Co., Ltd. completed the acquisition of Shanghai Celco Electronics Co.,Ltd. from Chuyo Electronics Co.,Ltd. and Toyo Manufacturing Co.,Ltd.
November 06, 2014 at 11:00 pm EST
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Ishii Hyoki Co., Ltd. (TSE:6336) signed a stake transfer contract to acquire Shanghai Celco Electronics Co.,Ltd. from Chuyo Electronics Co.,Ltd. and Toyo Manufacturing Co.,Ltd. for ¥330 million on October 22, 2014. Chuyo Electronics Co.,Ltd. will sell 50% stake for ¥165 million and Toyo Manufacturing Co.,Ltd. will sell 50% stake for ¥165 million. Ishii Hyoki Co., Ltd. will issue 0.31 million shares to Chuyo Electronics Co., Ltd. to raise ¥152 million as financing. Ishii Hyoki Co., Ltd. will operate Shanghai Celco Electronics Co.,Ltd. as its wholly owned subsidiary.
During the year ended December 2013, Shanghai Celco Electronics Co.,Ltd. had net assets of ¥445.71 million, total assets of ¥1.81 billion, sales of ¥4.53 billion, operating profit of ¥136.51 million and net income of ¥72.19 million. Board of Directors of Ishii Hyoki Co., Ltd. made a resolution in favor of the transaction on October 22, 2014. The transaction is expected to close on November 7, 2014.
Ishii Hyoki Co., Ltd. (TSE:6336) completed the acquisition of Shanghai Celco Electronics Co.,Ltd. from Chuyo Electronics Co.,Ltd. and Toyo Manufacturing Co.,Ltd. on November 7, 2014. As on November 7, 2014, Ishii Hyoki Co issued 0.31 million shares and raised ¥152 million from the private placement to fund the deal. The other parties of the acquisition and allotment investigation expenses are ¥13 million, other parties of the acquisition and allotment investigation expenses are ¥11 million and document creation expenses are ¥2 million.
ISHII HYOKI CO.,LTD. is a Japan-based company mainly engaged in the development, production, sale and service of electronic equipment parts manufacturing equipment, displays and electronic parts products. The Company operates through two business segments. The Electronic Equipment Parts Manufacturing Devices segment is involved in the manufacture and sale of printed circuit board manufacturing equipment, semiconductor manufacturing equipment, inkjet coaters and others. The Display and Electronic Components segment is involved in the manufacture and sale of membrane switch panels, silk printing and nameplates. The Company is also involved in the sale of products through its subsidiaries.
ISHII HYOKI CO., LTD. 
