Nagoya Electric Works Co., Ltd. cancelled the acquisition of DJTECH business section from Daiichi Mecha-Tech Corp.
February 17, 2016 at 11:00 pm EST
Nagoya Electric Works Co., Ltd. (NSE:6797) concluded a contract to acquire the DJTECH business section from Daiichi Mecha-Tech Corp. for approximately ¥140 million in cash on February 18, 2015. In a related transaction, Nagoya will issue 0.17 million shares to Daiichi Jitsugyo Co. Ltd. DJTECH business section had sales of ¥581 million for the period ending March 2014. A resolution was passed by Daiichi Mecha-Tech for the transaction. The business transfer date is scheduled on April 1, 2015.
Nagoya Electric Works Co., Ltd. (NSE:6797) cancelled the acquisition of DJTECH business section from Daiichi Mecha-Tech Corp. on February 18, 2016.