Odawara Auto-Machine Mfg. Co., Ltd. signed a contract to acquire remaining 7.8% stake in Sota Systems Co., Ltd. from individual shareholder.
December 13, 2017
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Odawara Auto-Machine Mfg. Co., Ltd. (JASDAQ:7314) signed a contract to acquire remaining 7.8% stake in Sota Systems Co., Ltd. from individual shareholder on December 13, 2017. Under the transaction, Odawara Auto-Machine Mfg. Co., Ltd. acquires 47 shares representing 7.8% stake. After the completion of the transaction Sota Systems Co., Ltd. will became a wholly owned unit of Odawara Auto-Machine Mfg. Co., Ltd. For the year ended April 30, 2017, Sota Systems Co., Ltd. reported net liabilities of ¥5 million, total assets of ¥176 million, sales of ¥276 million, operating income of ¥62 million and net income of ¥61 million. The Board of Directors of Odawara Auto-Machine Mfg. Co., Ltd. announced the resolution for the deal on December 13, 2017. The deal is expected to close on December 13, 2017.
ODAWARA AUTO-MACHINE MFG.CO.,LTD. is a Japan-based company engaged in the development, manufacture and sale of bus fare collection equipment and the provision of maintenance services for its products. The Company's products and goods include bus fare collection equipment-related products, such as fare collection equipment with immediate calculating function and general function, and safes and software for fare collection equipment, card equipment-related products, such as magnetic card systems, noncontact integrated circuit(IC) card systems and software for card equipment, as well as other equipment for bus, such as numbered ticket issuing equipment, checkout devices, data management servers, liquid crystal display (LCD) fare displays and related software, among others. The Company is also involved in the manufacture and sale of light-emitting diode (LED) fare displays, routing display systems, roll paper for numbered ticket issuing equipment.
ODAWARA AUTO-MACHINE MFG. CO., LTD. 
