MK Seiko Co., Ltd. (JASDAQ:5906) agreed to acquire mixer production and sales business from Takeuchi Mfg. Co., Ltd. (TSE:6432) for approximately ¥360 million on April 17, 2018. The agreement is expected to be signed on April 18, 2018.

Under the terms of the transaction, Takeuchi Mfg. Co., Ltd. will establish a new company for the mixer production and sales business (MK Mixed Co., Ltd.) and then transfer its all shares to MK Seiko Co., Ltd. For the fiscal year ended February 28, 2018, the mixer production and sales business had sales of ¥565 million and total assets of ¥188 million. The transaction was resolved by the Board of Directors of Takeuchi Mfg.

Co., Ltd. on April 17, 2018 and the share transfer is expected to be completed on June 1, 2018. Advisory fees in the transaction is ¥30 million.