Japan Elevator Service Holdings Co.,Ltd. (TSE:6544) and an individual investor agreed to acquire UNIECO VIETNAM COMPANY LIMITED from the shareholders on November 8, 2021. Post completion, Japan Elevator will have 51% voting rights in UNIECO VIETNAM and the name will be changed to JAPAN UNIECO ELEVATOR SERVICE COMPANY LIMITED. For the Fiscal year ending December 2020, UNIECO VIETNAM reported Net assets of VND 6.35 billion, Total assets of VND 14.21 billion, operating profit of VND 171 million, Sales of VND 16.74 billion and Net income of VND 143 million.

Transaction is expected to complete Late November 2021.