Daido Steel Co., Ltd. reached a basic agreement to acquire Nisc-Hanbai Co. from Nippon Steel Coated Sheet Corporation and others.
August 16, 2021
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Daido Steel Co., Ltd. (TSE:5471) reached a basic agreement to acquire Nisc-Hanbai Co. from Nippon Steel Coated Sheet Corporation and others on August 17, 2021. Transaction will be implemented as absorption-type merger with Daido Steel as the surviving company and Nisc-Hanbai as the extinct company. If the merger is implemented, Nippon Steel Coated Sheet Corporation is expected to hold a majority stake in the merged company. Merger is expected to complete on April 1, 2022.
Daido Steel Co., Ltd. is a steel manufacturing company operating in five business segments. The Specialty Steel segment is engaged in the manufacture, inspection and sale of specialty steel and secondary products, as well as the procurement of materials. The Functional and Magnetic Materials segment offers functional and electronic materials, high-alloyed products and rare-earth magnetic products. The Automobile and Industrial Machinery Parts segment mainly offers shaped forgings, precision hot forgings, open die forgings and steel machinery products for trucks, compression equipment, hydraulic equipment and machine tool parts. The Engineering segment offers steel equipment, environmental equipment and others. The Distribution and Services segment is engaged in the real estate business, the insurance businesses, the operation of golf courses and hotels, as well as the sale of information systems.
DAIDO STEEL CO., LTD. 
