Nakayama Steel Works, Ltd. (TSE:5408) agreed to acquire remaining 81% stake in Sansen Shear Co., Ltd. from group of investors for approximately ¥390 million in stock on March 7, 2013. Nakayama Steel Works, Ltd. (TSE:5408) entered into a share exchange agreement remaining 81% stake in Sansen Shear Co., Ltd. from group of investors on March 28, 2013. The shareholders of Sansen Shear includes Nakayama Trading Co.,Ltd. and Mitsuboshi Kaiun Kaisha, Ltd. each holding 23.3% stake, Nakayama Mitsuboshi Steel Products, Ltd. holding 17.67% stake and Mitsuboshi Shoji Co., Ltd. holding 16.67% stake.

As a part of consideration, Nakayama Steel Works will issue 63 shares in share exchange for every share of Sansen Shear. In related transactions, Nakayama Steel Works, Ltd. (TSE:5408) agreed to acquire remaining 59.71% stake in Nakayama Mitsuboshi Steel for ¥4.8 billion, remaining 79.01% stake in Nakayama Trading for ¥2.4 billion, remaining 75.27% stake in Mitsuboshi Kaiun Kaisha for ¥1.5 billion and remaining 76.64% stake in Mitsuboshi Shoji for ¥1.6 billion on March 7, 2013. Sansen Shear reported net assets of ¥708 million, total assets of ¥1.4 billion, sales of ¥1.5 billion, operating profit of ¥2 million and net income of ¥4 million for period ending March 2012.

The transaction was resolved by Board of Directors of Nakayama Steel Works on March 28, 2013. The ordinary annual shareholders' meeting of subsidiaries is scheduled on June 18, 2013. A meeting of shareholders of Nakayama Steel Works will be held on June 18, 2013. Total transaction cost for all the acquisitions is ¥20 million. The transaction has been approved by shareholders of Nakayama Steel Works and Sansen Shear. The transaction is expected to be completed on July 9, 2013.

Nakayama Steel Works, Ltd. (TSE:5408) completed the acquisition of remaining 81% stake in Sansen Shear Co., Ltd. from group of investors on July 9, 2013.