Zhejiang Yinyu New Material Co., Ltd. completed the acquisition of Nittobo Co., Ltd. from Nitto Boseki Co., Ltd..
May 20, 2019
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Zhejiang Yinyu New Material Co., Ltd. intends to acquire Nittobo (China) Co., Ltd. from Nitto Boseki Co., Ltd. (TSE:3110) on April 18, 2019. The contract is plan to sign on April 18, 2019. As of December 31, 2018, Nittobo (China) reported total common equity of CNY 137 million. total assets of CNY 149 million, revenue of CNY 120 million, negative EBIT of CNY 3 million and net loss of CNY 2 million. The transaction was resolved by the board of directors of Nitto Boseki on April 18, 2019. The transaction is subject to approval of Chinese authorities.
Zhejiang Yinyu New Material Co., Ltd. completed the acquisition of Nittobo (China) Co., Ltd. from Nitto Boseki Co., Ltd. (TSE:3110) on May 21, 2019.
NITTO BOSEKI CO., LTD. is principally engaged in the operation of textile business, glass fiber yarn business, glass fiber cloth business, glass fiber for industrial materials business, life science business, and other businesses. Textiles segment manufactures and sells textile products, including core spun yarn, stretched products, interlining products and secondary products. Glass Fiber Yarn segment manufactures and sells glass raw fiber products, including yarn, roving and chopped strands. Glass Fiber Cloth segment manufactures and sells glass fiber functional products. Glass Fiber for Industrial Materials segment manufactures and sales glass wool products and glass fiber products for use in industrial materials. Life Science segment manufactures and sells reagents for in-vitro diagnostic drugs, specialty chemicals products and soft drinks, among others. The Others segment operates real estate related business, as well as other businesses.
NITTO BOSEKI CO., LTD. 
