Janome Taiwan Co., Ltd. cancelled the acquisition of an additional 53.2% stake in Janome Co., Ltd. from Janome Sewing Machine Co., Ltd..
May 23, 2014 at 09:30 am IST
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Janome Taiwan Co., Ltd. agreed to acquire an additional 53.2% stake in Janome (Thailand) Co., Ltd. from Janome Sewing Machine Co., Ltd. (TSE:6445) for approximately THB 250 million on May 23, 2013. Janome Taiwan will acquire additional 4.68 million shares of Janome (Thailand). Post transaction, Janome Taiwan's stake in Janome (Thailand) will increase to 59.1% and Janome Sewing Machine's stake will decrease to 5.9%. The transaction was resolved by Board of Directors of Janome Sewing Machine on May 23, 2013. The transaction is expected to complete on May 30, 2013.
Janome Taiwan Co., Ltd. cancelled the acquisition of an additional 53.2% stake in Janome (Thailand) Co., Ltd. from Janome Sewing Machine Co., Ltd. (TSE:6445) on May 23, 2014.
Janome Corp, formerly Janome Sewing Machine Co Ltd, is a Japan-based company mainly engaged in the household equipment business, the industrial equipment business and the information technology (IT) related business. The Company operates in three business segments. The Household Equipment segment is mainly engaged in the manufacture and sale of sewing equipment, 24-hour bath equipment and other household equipment. The Industrial Equipment segment is mainly engaged in the manufacture and sale of desktop robots, servo presses, die cast products and other industrial equipment. The IT Related segment is mainly engaged in the provision of IT software products and information processing services. The Company is also engaged in the provision of installation and maintenance services for 24-hour bath, as well as the real estate leasing business.