Nittoseiko Co.,Ltd. acquired K.M.Seiko Co.,Ltd. from Takato Kitai, Hiroyuki Kitai and others.
December 30, 2022
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Nittoseiko Co.,Ltd. (TSE:5957) signed an equity Transfer contract to acquire K.M.Seiko Co.,Ltd. from Takato Kitai, Hiroyuki Kitai and others on February 14, 2022. As part of the transaction, Nittoseiko will acquire 90,000 shares of K.M.Seiko of which Takato Kitai hold 42.5%, Hiroyuki Kitai hold 42.5% and others hold 15% of the shares. For the Fiscal year ending September, 2021, K.M.Seiko reported net assets of ¥1.7 billion, total assets of ¥2.8 billion, sales of ¥3.3 billion, Ordinary profit of ¥423 million and Net profit of ¥284 million. The transaction is resolved by the board of Nittoseiko and expected to complete on April 1, 2022.
Nittoseiko Co.,Ltd. (TSE:5957) acquired K.M.Seiko Co.,Ltd. from Takato Kitai, Hiroyuki Kitai and others in December, 2022.
NITTO SEIKO CO., LTD. is a manufacturer of industrial fasteners and tools, industrial and precision machinery, as well as measuring and control equipment. The Company operates in three business segments. The Fastener segment offers precision screw parts, special cold-headed parts and industrial fasteners. The Industrial Machinery segment offers automatic assembly systems, including free cycle conveyors, automatic screw fastening machines, automatic rivet caulking machines, assembly robots and other industrial machinery. The Control segment offers flow meters, high performance inspection sorting equipment, automatic penetration testing machine for geological survey, micro bubble washing equipment.