Hitachi High-Technologies Corp. (TSE:8036) signed a basic agreement to acquire SII NanoTechnology, Inc. from Seiko Instruments Inc. for ¥8.5 billion on May 24, 2012. Hitachi will acquire 0.06 million shares of SII NanoTechnology. Hitachi High-Technologies Corp. will operate SII NanoTechnology, Inc. as wholly owned subsidiary. For the year ended March 31, 2011, SII NanoTechnology reported total net assets of ¥4.3 billion, total assets of ¥18.5 billion, net sales of ¥15.6 billion, operating income of ¥43 million, net income of ¥258 million and net income per share of ¥4,305. Hitachi will take on SII's around 500 employees, as well as domestic and overseas bases.

The transaction is subject to regulatory approval. Due to inspection of the implications of the agreement under Japan's Act concerning prohibition of private monopolization and maintenance of fair trade, this share transfer will now take place in later than the originally scheduled date of July 25, 2012. On December 10, 2012, the relevant agencies notified the parties that a cease and desist order will not be issued. Consequently, the agreement is expected to be finalized on December 26, 2012, following approval from the respective Board of Directors of the parties involved, with the transfer set to take place on January 1, 2013. The transaction is expected to have only a negligible impact on Hitachi's consolidated business performance.

Hitachi High-Technologies Corp. (TSE:8036) signed a share transfer agreement to acquire SII NanoTechnology, Inc. from Seiko Instruments Inc. on December 26, 2012. SII NanoTechnology had net assets of ¥4.37 billion, total assets of ¥17.13 billion, net sales of ¥15.53 billion, operating loss of ¥60 million and net income of ¥174 million for the year ended March 31, 2012. The transaction was approved by the antitrust authorities on December 10, 2012. The transaction was approved by the respective Board of Directors of the parties involved at meetings held on December 26, 2012. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor for Hitachi. The due diligence and relevant expenses were ¥148 million.

Hitachi High-Technologies Corp. (TSE:8036) completed the acquisition of SII NanoTechnology, Inc. from Seiko Instruments Inc. on January 1, 2013. Pursuant to the transaction, SII NanoTechnology has been renamed as Hitachi High-Tech Science Corporation.