Sanso Electric Co.,Ltd. completed the acquisition of Iwaya Electric Mfg Co.,Ltd. from 12 individual shareholders.
April 31, 2016
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Sanso Electric Co.,Ltd. (JASDAQ:6518) signed a contract to acquire Iwaya Electric Mfg Co.,Ltd. from 12 individual shareholders on February 22, 2016. Sanso Electric will acquire 0.04 million shares of Iwaya Electric Mfg. On completion, Iwaya Electric Mfg will become a wholly owned subsidiary of Sanso Electric. Iwaya Electric Mfg reported sales of ¥1.05 billion, net assets of ¥333.28 million and total assets of ¥1.22 billion as of May 2015. The deal was resolved by the Board of Directors of Sanso Electric on February 22, 2016. The deal is expected to close on April 1, 2016.
Sanso Electric Co.,Ltd. (JASDAQ:6518) completed the acquisition of Iwaya Electric Mfg Co.,Ltd. from 12 individual shareholders on April 1, 2016.
SANSO ELECTRIC CO.,LTD. is a Japan-based company mainly engaged in the manufacture and sale of motors, pumps, and motor related products and parts. The Company is also engaged in the pressing and cutting of parts used in motors and pumps, and the manufacture of motor stators. The main products are motors, magnet pumps, line pumps, circulation pumps, household pumps, and special purpose pumps such as electrolyzed water pressure automatic pumps and antifreeze liquid pressure pumps. The motors are applied to fans, variable speed reducers, and pumps. It is also engaged in the provision of maintenance, research, development and other services associated with products and parts. The Company sells products to Japan and China.