THine Electronics, Inc. completed the acquisition of 52.39% stake in Cathay Tri-Tech., Inc. from Takashi Nakahara, Wenquan Xie and Hyakuen Nakahara.
December 05, 2018
Share
THine Electronics, Inc. (JASDAQ:6769) signed a share transfer agreement to acquire 52.39% stake in Cathay Tri-Tech., Inc. from Takashi Nakahara, Wenquan Xie and Hyakuen Nakahara for approximately ¥180 million on November 15, 2018. Under the transaction, THine Electronics acquires 16,240 shares representing 52.39% stake and as a consideration THine Electronics will issue 0.17 million treasury shares. During the financial year ended December 2017, Cathay Tri-Tech., Inc. reported net assets of ¥216 million, total assets of ¥580 million, sales of ¥715 million, operating income of ¥14 million and net income of ¥2 million. The transaction has been approved by the Board of THine Electronics, Inc. on November 20, 2018 and same day capital business alliance agreement has been signed. The transaction is expected to be completed on December 6, 2018.
THine Electronics, Inc. (JASDAQ:6769) completed the acquisition of 52.39% stake in Cathay Tri-Tech., Inc. from Takashi Nakahara, Wenquan Xie and Hyakuen Nakahara on December 6, 2018.
THine Electronics, Inc. is a Japan-based company primarily engaged in the large scale integration (LSI) business and artificial intelligence and Internet of Things (AIOT) business. The Company has two business segments. The LSI segment is engaged in the development and sale of flat panels and other mixed signal LSI products for office equipment, amusements, security cameras, in-vehicle equipment, flat screen televisions, liquid crystal panels, personal computers and other fields, as well as the intellectual property (IP) licensing business through products development. The AIOT segment is engaged in the development, manufacture and sale of hardware and software for artificial intelligence (AI), Internet of Things (IoT) and machine-to-machine (M2M) devices, and mobile communication devices.
THINE ELECTRONICS, INC. 
