NGK Spark Plug Co., Ltd. agreed to acquire 30% stake in Japan Medical Dynamic Marketing, INC. from ITOCHU Corporation for ¥6.2 billion.
April 19, 2016
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NGK Spark Plug Co., Ltd. (TSE:5334) agreed to acquire 30% stake in Japan Medical Dynamic Marketing, INC. (TSE:7600) from ITOCHU Corporation (TSE:8001) for ¥6.2 billion on April 20, 2016. Under the terms of the deal, 7.9 million shares will be acquired at an offer per share of ¥780. The transaction is expected to close on May 16, 2016.
Japan Medical Dynamic Marketing, INC. is a Japan-based medical equipment provider. The Company is principally engaged in the import, development, manufacture and sale of medical equipment primarily in the field of orthopedic surgery. The Company has two segments. The Japan segment imports materials for osteosynthesis, artificial joints and spinal fixation devices from manufacturers, and sell them in Japan. The America segment is involved in the development and manufacture of materials for osteosynthesis, artificial joints, spinal fixation devices and other products, as well as the sale of medical equipment in North America. As of March 31, 2014, the Company had one subsidiary in the United States.