Futaba Industrial Co., Ltd. cancelled the acquisition of Shenzhen Futaba Metal Products Co.,Ltd. from Futaba Technology Limited.
April 26, 2018
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Futaba Industrial Co., Ltd. (TSE:7241) agreed to acquire Shenzhen Futaba Metal Products Co.,Ltd. from Futaba Technology Limited for approximately CNY 130 million on April 27, 2017. Post-acquisition, Shenzhen Futaba Metal Products Co.,Ltd. will operate as a wholly-owned subsidiary of Futaba Industrial Co., Ltd. For the year ended December 31, 2016, Shenzhen Futaba Metal Products Co.,Ltd. reported total revenues of CNY 485.17 million, total assets of CNY 179.81 million, operating income of CNY 14.85 million, net income of CNY 12.36 million and net assets of CNY 114.63 million. As of April 27, 2017, Board of Futaba Industrial Co., Ltd. resolved the transaction. The contract is expected to conclude on June 30, 2017. The transaction is expected to complete in July 2017. The advisory fee for the transaction is CNY 0.17 million.
Futaba Industrial Co., Ltd. (TSE:7241) cancelled the acquisition of Shenzhen Futaba Metal Products Co.,Ltd. from Futaba Technology Limited on April 27, 2018.
FUTABA INDUSTRIAL CO., LTD. is a Japan-based company, primarily engaged in the manufacture and sale of automobile assembly parts, information environment equipment parts, as well as jigs and welding machines. The Company operates in four segments. The Japan segment is engaged in the manufacture and sale of automobile parts, information environment equipment parts, as well as jigs and welding machines. The North America segment is engaged in the manufacture and sale of automobile parts. The Europe segment is engaged in the manufacture and sale of automobile parts. The Asia segment is engaged in the manufacture and sale of automobile parts and information environment equipment parts.
FUTABA INDUSTRIAL CO., LTD. 
