Sumitomo Bakelite Company Limited (TSE:4203) executed a capital and business alliance agreement to acquire 20.8% stake in Kawasumi Laboratories, Incorporated (TSE:7703) on March 20, 2019. Sumitomo Bakelite Company will acquire 4.8 million shares of Kawasumi Laboratories. The transaction is resolved by the Board of Sumitomo Bakelite and Kawasumi Laboratories. The transaction is expected to complete on March 26, 2019. The effect of the transaction is immaterial on the consolidated financial results of Sumitomo Bakelite and Kawasumi Laboratories and is expected to contribute to the enhancement of corporate value of both Sumitomo Bakelite and Kawasumi Laboratories in future.

Sumitomo Bakelite Company Limited (TSE:4203) completed the acquisition of 20.8% stake in Kawasumi Laboratories, Incorporated (TSE:7703) on May 16, 2019.