Okamoto Industries, Inc. completed the acquisition of 9.6% minority stake in Riken Corundum Company Limited for approximately ¥210 million.

Riken Corundum Company Limited. is a Japan-based company mainly engaged in the manufacturing and sales of abrasive papers and abrasive cloths, as well as office automation (OA) equipment parts. The Company operates through three business segments. The Abrasive Paper and Cloth Manufacturing and Sales segment is in the provision of abrasive cloth, waterproof abrasive paper, RICOAZ belts, resin belts and endless belts. The OA Equipment Parts Manufacturing and Sales segment is engaged in the production and sales of rubber rollers, grip rollers, grit sanders and other products. The Real Estate segment is engaged in the leasing of real estate properties.