Fuji Oozx, Inc. concluded a contract to acquire solid valve business division of Mitsubishi Heavy Industries Machine Tool Co., Ltd for approximately ¥190 million.

Fuji Oozx, Inc. (TSE:7299) concluded a contract to acquire solid valve business division of Mitsubishi Heavy Industries Machine Tool Co., Ltd for approximately ¥190 million in cash on January 28, 2016. The division reported sales of ¥2.26 billion for the period ending March 2015. The division reported total assets of ¥262 million and total liabilities of ¥0 million as of December 31, 2015.

The transaction is expected to be completed on April 30, 2016. The acquisition date has been amended to May 31, 2016.