Waida Mfg. Co., Ltd. completed the acquisition of an additional 10% stake in Waida Feeler Precision Machinery Co., Ltd. from Marubeni Corporation and Citizen Machinery Miyano Co., Ltd.
September 30, 2014 at 12:00 am EDT
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Waida Mfg. Co., Ltd. (JASDAQ:6158) agreed to acquire an additional 10% stake in Waida Feeler Precision Machinery Co., Ltd. from Marubeni Corporation (TSE:8002) and Citizen Machinery Miyano Co., Ltd. for ¥11 million on June 19, 2014. Waida Mfg. Co., Ltd. is acquiring 10 shares of Waida Feeler Precision Machinery out of which Marubeni Corporation is selling 5 shares representing 5% stake and Citizen Machinery Miyano Co., Ltd. is selling 5 shares representing 5% stake. For the period ending December 31, 2013, Waida Feeler Precision Machinery reported total assets of ¥149 million, net assets of ¥97 million, sales of ¥81 million, operating loss of ¥30 million and net loss of ¥25 million. Board of Directors of Waida Mfg. Co., Ltd. resolved the transaction. The transaction is expected to be closed by July 31, 2014.
Waida Mfg. Co., Ltd. (JASDAQ:6158) completed the acquisition of an additional 10% stake in Waida Feeler Precision Machinery Co., Ltd. from Marubeni Corporation (TSE:8002) and Citizen Machinery Miyano Co., Ltd. in the quarter ended, September 30, 2014.
WAIDA MFG. CO., LTD. is a Japan-based company engaged in the development, manufacture and sale of computer numeric control (CNC) grinders for mold and cutting tool related companies. The Company manufactures precision machines by precision machine tool technology, grinding technology and control technology. Its main products include mold-related grinders, such as molding grinders and jig grinders; cutting tool-related grinders, such as insert periphery grinders and axial tool grinders, as well as other metal processing machines and attached equipment. In addition, the Company is also engaged in the provision of after-sales services for various grinders and attached equipment, the sale of components, as well as the overhaul of its products.
Waida Mfg. Co., Ltd. completed the acquisition of an additional 10% stake in Waida Feeler Precision Machinery Co., Ltd. from Marubeni Corporation and Citizen Machinery Miyano Co., Ltd.
WAIDA MFG. CO.,LTD. 
