Nakamura Choukou Co., Ltd. (TSE:6166) entered into a share transfer contract to acquire an additional 40.1% stake in Suminoe Nakacho Device Technology Corporation from Suminoe Textile Co., Ltd. (TSE:3501) for ¥0.02 million on December 27, 2016. Under the terms, Nakamura Choukou Co., Ltd. will acquire 0.02 million shares increasing its shareholding from 49.9% to 90%. As of December 27, 2016, Suminoe Textile Co., Ltd. holds 50.1% stake and Nakamura Choukou Co., Ltd. holds 49.9% stake in Suminoe Nakacho Device Technology Corporation. For the period ended May 2016, Suminoe Nakacho Device Technology Corporation reported sales of ¥1.1 billion, operating profit of ¥105 million, net income of ¥133 million, net assets of ¥390 million and total assets of ¥1.34 billion. The share transfer contract is expected to conclude and the transaction is expected to complete until the end of December 2016.

Nakamura Choukou Co., Ltd. (TSE:6166) completed the acquisition of an additional 40.1% stake in Suminoe Nakacho Device Technology Corporation from Suminoe Textile Co., Ltd. (TSE:3501) on December 30, 2016.