Meiko Electronics Co., Ltd. (TSE:6787) entered into an agreement to acquire NEC Embedded Products, Ltd from NEC Corporation (TSE:6701) for ¥11 billion on July 28, 2022. Under the transaction, Meiko Electronics will acquire 403,800 equity shares of NEC Embedded Products, Ltd. For the year ending March 31, 2022, NEC Embedded Products, Ltd reported revenue of ¥14.03 billion and net assets of ¥3.61 billion, total assets of ¥9.98 billion and operating loss of ¥184 million. The transaction is expected to complete on October 1, 2022.

Daiwa Securities Co. Ltd. acted as financial advisor to Meiko Electronics Co., Ltd.