Aida Engineering, Ltd. completed the acquisition of 80% stake in Reliance Electric Ltd. from Takaoka Toko Co., Ltd..
November 29, 2017
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Aida Engineering, Ltd. (TSE:6118) entered into an agreement to acquire 80% stake in Reliance Electric Ltd. from Takaoka Toko Co., Ltd. (TSE:6617) for ¥2 billion on September 29, 2017. Under the terms of the transaction, Aida Engineering will acquire 0.48 million shares of Reliance Electric. As a part of the transaction, RAS Co, Ltd. will become sub sub-subsidiary of Aida Engineering, Ltd. For the year ended March 31, 2017, Reliance Electric Ltd. reported total assets of ¥4.2 billion, net assets of ¥858 million, net sales of ¥4.5 billion, operating income of ¥77 million, and net income of ¥140 million. The transaction was resolved by the board of directors of Aida Engineering, Ltd. The transaction is scheduled to be closed on November 1, 2017.
Aida Engineering, Ltd. (TSE:6118) completed the acquisition of 80% stake in Reliance Electric Ltd. from Takaoka Toko Co., Ltd. (TSE:6617) in November 2017.
TAKAOKA TOKO CO., LTD. is mainly engaged in the manufacture, sale and contracting of products throughout the business fields of electrical equipment, measuring gauge, information and optical application inspection equipment, and energy solutions. The Company operates in four business segments. The Electrical Equipment segment is mainly engaged in the manufacture, sale and installation of power transformers, switching devices, monitoring and controlling systems. The Measuring Gauge segment provides measuring gauges, repair services, instrument abeyance construction works. The Energy Solutions segment manufactures and sells energy measurement and control equipment, rapid chargers for electric cars, drive equipment for industrial machineries. The Information and Optical Application Inspection Equipment segment provides three-dimensional inspection devices, thin client systems and embedded software.
TAKAOKA TOKO CO., LTD. 
