TOYO Corporation (TSE:8151) agreed to acquire TOKIN EMC Engineering Co., Ltd. from TOKIN Corporation on November 8, 2023. TOYO Corporation concluded a stock transfer agreement to acquire TOKIN EMC Engineering Co., Ltd. from TOKIN for ¥460 million on December 19, 2023. TOKIN EMC Engineering has net worth of ¥444.860 million, total assets of ¥710.351 million, operating profit of ¥61.045 million, sales of ¥296 million, and net profit of ¥ 49.41 million as of December 2022.

The contract conclusion date, which was originally scheduled for November 20, 2023, has been changed to Late December 2023. The transaction is expected to complete by January 1, 2024.