DAIHEN Corporation (TSE:6622) agreed to acquire an additional unknown stake in Shihen Technical Corporation from 156 individual shareholders and five other corporate shareholders for approximately ¥670 million on December 13, 2023. After the acquisition, DAIHEN Corporation will make Shihen Technical as a subsidiary. DAIHEN will acquire 1,699,839 shares in this transaction. The Board of Directors resolution date is December 13, 2023. The contract conclusion date is December 14, 2023. Shihen Technical Corporation has reported Net assets of ¥13.78 billion, Total assets of ¥19.61 billion, Sales of ¥14.71 billion, Operating income of ¥465 million and Net income of ¥515 million for fiscal year ending March 2023. The transaction is expected to close on December 14, 2023.

DAIHEN Corporation (TSE:6622) completed the acquisition of an additional unknown stake in Shihen Technical Corporation from 156 individual shareholders and five other corporate shareholders on December 31, 2023.