NF Corp. (JASDAQ:6864) agreed to acquire Chiyoda Co., Ltd. from Hanwa Co. Ltd. (TSE:8078) for approximately ¥270 million on July 26, 2013.

NF Corp. is acquiring 1.6 million shares of Chiyoda Co., Ltd. representing 100% stake. Chiyoda Co., Ltd. will be renamed to Chiyoda Electronics Co., Ltd. For the period ending March 31, 2013, Chiyoda Co., Ltd. reported total assets of ¥934 million, net assets of ¥578 million, sales of ¥1.3 billion, operating profit of ¥42 million and net profit of ¥11 million.

The Board of NF Corp. resolved the transaction on July 26, 2013.