The Japan Steel Works, Ltd. and Ube Machinery Corporation, Ltd. completed the acquisition of 14.07% stake in Toyo Machinery & Metal Co. Ltd. from Hitachi Ltd. and Hitachi Urban Investment, Ltd.
March 31, 2014 at 12:00 am EDT
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The Japan Steel Works, Ltd. (TSE:5631) and Ube Machinery Corporation, Ltd. entered into contract to acquire 14.07% stake in Toyo Machinery & Metal Co. Ltd. (TSE:6210) from Hitachi Ltd. (TSE:6501) and Hitachi Urban Investment, Ltd. on March 27, 2014. The Japan Steel Works, Ltd. will acquire 1.45 million shares of Toyo Machinery & Metal Co. Ltd. from Hitachi Ltd. Ube Machinery Corporation, Ltd. will acquire 1.17 million shares of Toyo Machinery & Metal Co. Ltd. from Hitachi Urban Investment and 0.28 million shares of Toyo Machinery & Metal Co. Ltd. from Hitachi ltd, at the price of ¥559 per shares for ¥810.55 million. Hitachi Ltd will reduce its holding to 1.81 million shares in Toyo Machinery & Metal Co. Ltd. The transaction is expected to close on March 31, 2014.
The Japan Steel Works, Ltd. (TSE:5631) and Ube Machinery Corporation, Ltd. completed the acquisition of 14.07% stake in Toyo Machinery & Metal Co. Ltd. (TSE:6210) from Hitachi Ltd. (TSE:6501) and Hitachi Urban Investment, Ltd. on March 31, 2014.
TOYO MACHINERY & METAL CO., Ltd. is a Japan-based company mainly engaged in the manufacture and sale of injection molding machines and die casting machines. The Company is engaged in the manufacture and sale of plastic injection molding machines such as electric servo injection molding machines, two-color and different material molding machines, all-electric vertical molding machines, optical disk molding machines, ultra-precision molding machines and peripheral devices and parts, die casting machines such as electric servo die casting machines, hydraulic die casting machines and peripheral devices and parts. The Company is also engaged in the maintenance, installation and sale support of molding machines and die casting machines.
The Japan Steel Works, Ltd. and Ube Machinery Corporation, Ltd. completed the acquisition of 14.07% stake in Toyo Machinery & Metal Co. Ltd. from Hitachi Ltd. and Hitachi Urban Investment, Ltd.
TOYO MACHINERY & METAL CO., LTD. 
