Hitachi High-Tech Corporation (TSE:8036) entered into an agreement to acquire remaining 66.6% stake in Techcomp Scientific Limited from individual shareholder on May 12, 2020. Under the terms, remaining 6,660 shares will be acquired as a part of the transaction. Hitachi High-Tech will hold 10,000 shares in Techcomp post the completion of the transaction.

Techcomp reported total assets of ¥3.13 billion, net assets of ¥639 million, revenue of ¥3.6 billion for the fiscal year ended on December 2019. The transaction is subject to approval from regulatory and antitrust authorities. The transaction is expected to close on July 31, 2020.

GCA Advisors acted as financial advisor for Hitachi High-Tech Corporation. Yutaka Kimura of Baker & McKenzie (Gaikokuho Joint Enterprise) acted as legal advisor to Hitachi High-Tech Corporation.