Nagoya Electric Works Co., Ltd. entered into an agreement to acquire Conlux Matsumoto, K.K. from Nippon Conlux Co., Ltd.
September 24, 2018
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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.
NAGOYA ELECTRIC WORKS CO., LTD. is a company engaged in the manufacture and sale of information devices and testing instruments. The Company operates in two business segments. The Information Device segment is engaged in the manufacture and sale of light-emitting diode (LED) information systems for roads and rivers, disaster prevention systems for tunnels, mobile information vehicles, vehicle-mounted indicators, systems for parking lot information, information providing system under the name Michi no Eki, weather and disaster monitoring systems and variable regulatory sign systems and other systems, as well as the provision of maintenance and management services. The Testing Device segment is engaged in the manufacture and sale of appearance testers for printed circuit boards (PCBs) and hardware testing devices.