Nagoya Electric Works Co., Ltd. (NSE:6797) entered into an agreement to acquire Conlux Matsumoto, K.K. from Nippon Conlux Co., Ltd. on September 25, 2018. Under the terms of the transaction, Nagoya Electric Works Co., Ltd. will acquire 1,000 shares of Conlux Matsumoto, K.K. Upon completion, Conlux Matsumoto, K.K. will operate as subsidiary of Nagoya Electric Works Co., Ltd. For the year ended December 2017, Conlux Matsumoto, K.K. reported total assets of ¥552.4 million, net assets of ¥383.4 million, sales of ¥493.3 million, operating profit of ¥69.5 million, and net profit of ¥46.8 million. The transaction was resolved by the Board of Nagoya Electric Works Co., Ltd. on September 25, 2018. The transaction is expected to close on October 1, 2018.