KITZ Corporation entered into an agreement to acquire 12.9% stake in Toa Valve Engineering Inc. from Mitsubishi Corporation.

TVE Co Ltd, formerly Toa Valve Engineering Inc, is a Japan-based company mainly engaged in the development, manufacture, sale and maintenance of various industrial valves, as well as the decontamination and decommissioning business. The Company has three business segments. The Valve segment is engaged in the manufacture, sale, dismantlement, inspection, repair and maintenance of high temperature and high pressure valves for power plants such as nuclear power plants and thermal power plants, and various industrial valves and parts for ships, petrochemical plants and others, as well as the manufacture of cast steel parts for valve products. The Steelmaking segment is engaged in the manufacture and sale of cast steel products for construction equipment and other industries. The Decontamination segment is engaged in the radioactive removal business in Fukushima Prefecture.