Murakami Corporation (TSE:7292) agreed to acquire 84.2% of stake in Oshima Electric Works Co., Ltd. from Mitsuba Corporation (TSE:7280) on August 30, 2021. Murakami Corporation (TSE:7292) concluded a stock transfer agreement to acquire 84.2% of stake in Oshima Electric Works Co., Ltd. from Mitsuba Corporation (TSE:7280) on August 31, 2021. Oshima Electric reported sales of ¥8,246 million, total assets of ¥4,088 million, net worth of ¥2,188 million, negative EBIT of ¥15 million and net loss of ¥34 million for the year ended March, 2021.

The transaction is expected to close on April 1, 2022.