Kohoku Kogyo Co.,Ltd. signed a basic agreement to acquire FDK Lanka (PVT) Ltd. from FDK Corporation (TSE:6955) for ¥2.4 billion on October 29, 2014. Kohoku will take over the employees, relevant intellectual property rights, etc. involved in Optical Device business at FDK in addition to acquiring the shares of FDK Lanka.

The Board of FDK Corporation approved the transaction. Conclusion of final agreement is planned by the end of December 2014. As on January 29, 2015, Kohoku Kogyo reached a final agreement to acquire FDK Lanka (PVT) Ltd. from FDK Corporation.

The transaction is expected to be completed on February 27, 2015.