Tachibana Eletech Co. Ltd. completed the acquisition of Yashima Denki Solutions Co., Ltd. from Yashima Denki Co., Ltd. for ¥530 million.
April 31, 2020
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Tachibana Eletech Co. Ltd. (TSE:8159) signed a basic agreement to acquire Yashima Denki Solutions Co., Ltd. from Yashima Denki Co., Ltd. (TSE:3153) on September 10, 2019. Tachibana Eletech Co. Ltd. (TSE:8159) concluded the share transfer agreement to acquire Yashima Denki Solutions Co., Ltd. from Yashima Denki Co., Ltd. (TSE:3153) on January 21, 2020. Tachibana Eletech will acquire 1 share of Yashima Denki Solutions. As a result of deal, Yashima Denki Solutions will be excluded from the specified subsidiaries of the Company and extraordinary losses. Yashima Denki Solutions had sales of ¥7.7 billion, net income of ¥90 million, total assets of ¥3.8 billion and net assets of ¥972 million for the year ended March 31, 2019. The share transfer agreement will be signed on January 31, 2020. At a meeting of the Board of Directors resolved on January 21, 2020, Share transfer agreement is concluded. Transaction is expected to close on April 1, 2020.
Tachibana Eletech Co. Ltd. (TSE:8159) completed the acquisition of Yashima Denki Solutions Co., Ltd. from Yashima Denki Co., Ltd. (TSE:3153) for ¥530 million on April 1, 2020. Upon completion, name of Yashima Denki Solutions was changed to Tachibana Electronic Solutions Co., Ltd.
Yashima Denki Co., Ltd. is a company mainly engaged in the provision of electrical equipment, electronic information equipment, electronic devices, industrial equipment, air conditioning related equipment and others. The Company operates in three business segments. The Plant segment sells iron and steel systems, electrical substation and distribution equipment, rolling equipment, private power generation equipment, electrical control, production management systems, and related maintenance services. The Industrial and Transportation segment mainly sells air conditioning equipment, lighting equipment, electrical substation and distribution equipment, security systems, vehicles and vehicle electrical components, station equipment related systems, and maintenance services. Electronic Devices and Components segment mainly consists of microcomputers, analog semiconductors, memories, insulated gate bipolar transistors (IGBTs), liquid crystal modules, batteries, sensors and others.
YASHIMA DENKI CO., LTD. 