Kandenko Co.,Ltd. completed the acquisition of 40% stake in Phpc Co., Ltd. Inc. from Hitachi, Ltd..
February 06, 2020
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Kandenko Co.,Ltd. (TSE:1942) entered into a stock transfer agreement to acquire 40% stake in Phpc Co., Ltd. Inc. from Hitachi, Ltd. (TSE:6501) on December 9, 2019. The transaction completion is scheduled for January 31, 2020. Hitachi presently holds 40% stake represented by 0.06 million shares in Phpc. For the period ended March 2019, Phpc reported net sales of ¥2.2 billion. Ernst & Young acted as financial advisor and due diligence provider to Kandenko Co.,Ltd. in the transaction.
Kandenko Co.,Ltd. (TSE:1942) completed the acquisition of 40% stake in Phpc Co., Ltd. Inc. from Hitachi, Ltd. (TSE:6501) on February 7, 2020 which is an estimated completion date.
Hitachi specializes in manufacturing and marketing of electronic and industrial equipments. Net sales (including intragroup) break down by family of products and services as follows:
- social infrastructure and industrial systems (24.7%): elevators, escalators, industrial facilities, railway systems, power generation units, etc. The group also provides engineering and construction of nuclear, hydroelectric, and thermal power plants services;
- information and telecommunications products and services (20.1%): systems integration, cloud computing, software, servers, hard disks, PCs, ATMs, data communication base stations, payment terminals, etc.;
- materials and components (16.6%): semi-conductor materials, printed circuit cards, cables, copper and forged steel products, magnetic materials, organic and inorganic chemical products, etc.;
- construction equipment (10%) : hydraulic excavators, wheel loaders, mining equipment, etc.;
- automotive systems (9.4%): powertrain systems, control systems, etc.;
- electronic products (9.2%): fiber-optic components, screen tubes, testing and measurement equipment, medical equipment, equipment for manufacturing semiconductors, etc.;
- household appliances (4.7%): heating and air conditioning equipments, refrigerators, washing machines, etc.;
- other (5.3%): mainly transport, financial and logistical services.
Net sales are distributed geographically as follows: Japan (49.2%), Asia (21.3%), North America (12.7%), Europe (10.8%) and other (6%).