Molitec Steel Co., Ltd. cancelled the acquisition of an additional 70% stake in Nitirin Metals Co.,Ltd. from Norio Kaneko, 7 other individuals and others.
July 12, 2016
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Molitec Steel Co., Ltd. (TSE:5986) agreed to acquire an additional 70% stake in Nitirin Metals Co.,Ltd. from Norio Kaneko, 7 other individuals and others on July 13, 2015. Molitec Steel Co., Ltd. will acquire 0.05 million shares. As of January, 2015, Nitirin Metals had net assets of ¥312 million, total assets of ¥2.09 billion, sales of ¥4.44 billion, nil operating income and net loss of ¥32 million. The tentative contract conclusion date is July 15, 2015 and share transfer date is July 21, 2015.
Molitec Steel Co., Ltd. (TSE:5986) cancelled the acquisition of an additional 70% stake in Nitirin Metals Co.,Ltd. from Norio Kaneko, 7 other individuals and others on July 13, 2016.
MOLITEC STEEL CO.,LTD. is mainly engaged in the sale of special steel strips, the manufacture and sale of hardened steel strips and metal processed products. The Company operates through four business segments. The Trading segment is engaged in the sale of special steel strips including hot-rolled steel strips, stainless steel strips, and ordinary steel products. The Heat-treated Steel Strip segment is engaged in the manufacture and sale of heat-treated steel strips made from specialty steel strips, such as bainitic steel strips. The Processed Sheet Metal Product segment is engaged in the manufacture and sale of processed sheet metal products including cord reels and springs. The Overseas segment is mainly involved in the sale of steel products to countries such as Thailand, China, Vietnam, Indonesia and Mexico, as well as sale and processing of steel products, and the manufacture and sale of parts for home appliances, agricultural machinery and automobiles.
Molitec Steel Co., Ltd. cancelled the acquisition of an additional 70% stake in Nitirin Metals Co.,Ltd. from Norio Kaneko, 7 other individuals and others.
MOLITEC STEEL CO., LTD. 
