J.P. Morgan Securities plc and Nomura Securities Co., Ltd. acquired a 9.64% stake in Harmonic Drive Systems Inc. (TSE:6324) from Nabtesco Corporation (TSE:6268) for ¥47.3 billion on November 15, 2022. As part of the transaction, J.P. Morgan Securities and Nomura Securities acquires 9,160,200 shares. Post completion, Nabtesco will cease to have any stake in Harmonic Drive. Nabtesco expects to record gains on sale of investment securities of approximately ¥45.7 billion as extraordinary gains in its non-consolidated financial statements (under Japanese GAAP) for the fiscal year ending December 31, 2022.

J.P. Morgan Securities plc and Nomura Securities Co., Ltd. completed the acquisition of a 9.64% stake in Harmonic Drive Systems Inc. (TSE:6324) from Nabtesco Corporation (TSE:6268) on November 15, 2022.