Tokyo Electron Device Limited (TSE:2760) signed a contract to acquire 56.6% stake in Aval Nagasaki Corporation from Aval Data Corporation (JASDAQ:6918) for ¥1.1 billion on May 16, 2017. As reported, Tokyo Electron Device will acquire 0.13 million Aval Nagasaki shares. As a result of the transaction, Aval Data Corporation will decrease its voting power in Aval Nagasaki from 75.3% stake to 18.7% stake. Post completion, Aval Nagasaki will operate as a subsidiary of Tokyo Electron. During the period ended March 2017, Aval Nagasaki Corporation reported net assets of ¥2.46 billion, total assets of ¥3.01 billion, sales of ¥2.45 billion, operating income of ¥194 million and net income of ¥154 million. The transaction is expected to close on July 1, 2017.

Tokyo Electron Device Limited (TSE:2760) completed the acquisition of 56.6% stake in Aval Nagasaki Corporation from Aval Data Corporation (JASDAQ:6918) in July 2017.