Fanuc Corporation (TSE:6954) agreed to acquire remaining 33.4% stake in Mold Institute Ltd. from Kuroda Precision Industries Ltd. (TSE:7726), Makino Milling Machine Co., Ltd. (TSE:6135) and other shareholders for approximately ¥410 million on October 25, 2017. Fanuc Corporation will pay ¥202,488.17 per share in cash to the shareholders of Mold Institute Ltd. Pre deal, Fanuc Corporation held 66.6% stake and post completion of the deal, it will hold 100% stake in Mold Institute Ltd. which will be dissolved on closing.

For the year ended March 31, 2017, Mold Institute Ltd. reported net sales of ¥303 million and operating income of ¥46 million. As of March 31, 2017, Mold Institute Ltd. reported net assets of ¥1.18 billion and total assets of ¥1.24 billion. The transaction was resolved by the Board of Directors meeting of Fanuc Corporation on October 25, 2017. The transaction will be resolved by the general meeting of shareholders of Mold Institute Ltd. on October 26, 2017 and the merger agreement is planned to be concluded on October 26, 2017. The approval of the resolution of shareholders of Fanuc Corporation is not necessary. Mold Institute Ltd. will be merged into Fanuc Corporation as of January 1, 2018. The impact by the transaction for the consolidated results of Fanuc Corporation for the fiscal year ending March 31, 2018 is negligible.