MCAP No. 7 Co., Ltd. agreed to acquire a 55% stake in Kobelco & Materials Copper Tube Ltd. from Kobe Steel, Ltd. (TSE:5406) for ¥12 billion on December 24, 2021. The KMCT had net assets, total assets, sales and net loss of ¥11.07 billion, ¥28.26 billion, ¥39.76 billion and ¥0.56 billion for the fiscal year ending March 2021. The transaction is subject to obtaining approval under the Antimonopoly Act by the Japan Fair Trade Commission and expected to be completed by March 31, 2022.