Tokyo Century Corporation cancelled the acquisition of 24.4% stake in Cyber Core Co.,LTd. from UMC Electronics Co., Ltd..
November 21, 2017
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Tokyo Century Corporation (TSE:8439) agreed to acquire 24.4% stake in Cyber Core Co.,Ltd. from UMC Electronics Co., Ltd. (TSE:6615) for approximately ¥140 million on November 22, 2016. Under the terms, Tokyo Century Corporation will acquire 300 shares at ¥0.25 million per share and 250 new shares at ¥0.25 million per share from UMC Electronics Co., Ltd. Post completion of the transactions, UMC Electronics Co., Ltd. will hold 35.6% stake or 800 shares and Tokyo Century Corp. will hold 24.4% stake. As of March 31, 2016, Cyber Core Co.,Ltd. reported net assets of ¥19.5 billion and total assets of ¥64.1 million. UMC Electronics Co., Ltd. and Cyber Core Co.,Ltd. passed a resolution for the transaction on November 22, 2016. The transaction is expected to close on December 27, 2016.
Tokyo Century Corporation (TSE:8439) cancelled the acquisition of 24.4% stake in Cyber Core Co.,LTd. from UMC Electronics Co., Ltd. (TSE:6615) on November 22, 2017.
UMC Electronics Co Ltd is a Japan-based company mainly engaged in the electronics manufacturing services (EMS) business. The Company provides various products. In-vehicle devices include in-vehicle electronic devices such as electrical components for electric vehicles, start-up/power generation devices, exterior systems, speedometers, in-vehicle environment control devices, security devices, and car audio devices. Industrial equipment includes electronic equipment such as inverters, semiconductor test equipment, power supplies, and medical equipment. Office automation (OA) equipment includes electronic equipment such as printers and copiers. Consumer products include electronic devices such as digital home appliances, audiovisuals, and air conditioners. Information and communication equipment includes optical pickup units. It is also engaged in the provision of electronic equipment such as amusement equipment and parts business.