JAPAN MATERIAL Co., Ltd. agreed to acquire the remaining 49% stake in ADCT Technologies Pte. Ltd from Ang Swee Meng and Koh Yong Meng for ¥19 million.
November 16, 2016
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JAPAN MATERIAL Co., Ltd. (TSE:6055) agreed to acquire the remaining 49% stake in ADCT Technologies Pte. Ltd from Ang Swee Meng and Koh Yong Meng for ¥19 million on November 17, 2016. JAPAN MATERIAL will acquire 0.098 million shares of ADCT Technologies. The consideration for the transaction will be paid in cash and in stock. In a related transaction, JAPAN MATERIAL Co., Ltd. (TSE:6055) agreed to acquire the remaining 49% stake in Aldon Technologies Services Pte Ltd for approximately ¥680 million on November 17, 2016. As of December 31, 2015, ADCT Technologies Pte. Ltd reported net assets of $0.98 million (¥117.6 million) and total assets of $1.2 million (¥148.4 million). For the year ending December 31, 2015, ADCT Technologies Pte. Ltd reported total revenue of $3.5 million (¥424.6 million) and net income of $0.8 million (¥92.96 million). The transaction was resolved by the Board of JAPAN MATERIAL Co., Ltd. The transaction is expected to close on December 12, 2016. The conversions were done by www.oanda.com as on December 31, 2015.
Japan Material Co Ltd is a Japan-based company mainly engaged in the electronics-related business, graphics solution business and solar power generation business. The Company operates in three business segments. The Electronics-related segment is mainly engaged in the manufacture of special gas supply equipment, design and construction of supply piping, sale management of special gas, as well as the provision of technical services. The Graphics Solution segment is mainly engaged in the sale of graphic boards and digital signage related products. The Solar Power Generation segment is engaged in the sale of electricity to electric power companies by solar power generation.
JAPAN MATERIAL CO., LTD. 
