Inactive Instrument

Proteral

Equities

5486

JP3786200000

Sumitomo Metal Mining Co., Ltd. cancelled the acquisition of remaining 49% stake in SH Materials Co., Ltd. from Hitachi Metals, Ltd..

September 29, 2017

Sumitomo Metal Mining Co., Ltd. (TSE:5713) agreed to acquire remaining 49% stake in SH Materials Co., Ltd. from Hitachi Metals, Ltd. (TSE:5486) on September 30, 2016. In a related transaction, Hitachi Metals, Ltd. agreed to acquire 50% stake in SH Copper Products Co., Ltd. from Sumitomo Metal Mining Co., Ltd. Post transaction SH Materials Co., Ltd. will become wholly owned subsidiary of Sumitomo Metal Mining Co., Ltd. The transaction is expected to close early January 2017. The transaction will have minor impact on the consolidated results for the fiscal year ending March 2017, for both Sumitomo Metal Mining Co., Ltd., and Hitachi Metals, Ltd.

Sumitomo Metal Mining Co., Ltd. (TSE:5713) cancelled the acquisition of remaining 49% stake in SH Materials Co., Ltd. from Hitachi Metals, Ltd. (TSE:5486) on September 30, 2017.

Latest news about Proteral

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Company Profile

Proteral Ltd, formerly known as Hitachi Metals Ltd is a Japan-based company mainly engaged in the provision of special steel products, magnetic materials and power electronics, and electric wire materials. The Company operates through four business segments. The main products of the Special Steel Products segment include tool steel, shaving and cutlery materials, special steel such as precision castings. The main products of the Cast Iron Products segment include ductile cast iron products, cast iron products for transport equipment, automotive castings such as heat-resistant cast parts for exhaust systems. The main products of the Magnetic Materials and Power Electronics segment include magnetic materials such as rare earth magnets and ferrite magnets. The main products of the Wire Materials segment are industrial wires, electrical materials, wires including industrial rubber, automotive electrical components. The Company is also engaged in real estate business and software business.

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