Seiko Electric Co., Ltd. cancelled the acquisition of Trytec Co., Ltd. from 9 Stage No. 3 Investment Limited Partnership managed by Fukuoka Capital Partners Co., Ltd.
March 24, 2018
Share
Seiko Electric Co., Ltd. (FKSE:6653) agreed to acquire Trytec Co., Ltd. from 9 Stage No. 3 Investment Limited Partnership managed by Fukuoka Capital Partners Co., Ltd. for ¥500 million on March 24, 2017. A contract will be signed on March 27, 2017. Seiko Electric will acquire 52 shares of Trytec. On completion, Trytec will become a subsidiary of subsidiary of Seiko Electric. Trytec reported net assets of ¥364 million, total assets of ¥464 million, sales of ¥601 million, operating profit of ¥89 million and net income of ¥57 million during the period ended October 2016. The deal was resolved by the Board of Directors of Seiko Electric on March 24, 2017. The deal is expected to close on April 17, 2017. Seiko Electric will pay ¥25 million as advisory fee.
Seiko Electric Co., Ltd. (FKSE:6653) cancelled the acquisition of Trytec Co., Ltd. from 9 Stage No. 3 Investment Limited Partnership managed by Fukuoka Capital Partners Co., Ltd. on March 24, 2018.
SEIKO ELECTRIC CO., LTD. is a Japan-based company mainly engaged in the electric power business, environmental energy business, information business and service business. The Company has four business segments. The Power segment is engaged in the manufacture and sale of power control systems, power switching devices, distribution automation equipment and intelligence equipment. The Environment and Energy segment is mainly engaged in the manufacture and sale of public and environmental systems, industrial plant systems, power distribution systems and storage systems. The Information segment is mainly engaged in the manufacture and sale of cloud service products for ports, healthcare and e-learning services. The Service segment is mainly engaged in the provision of engineering services of electrical equipment, and the insurance agency business. The Company is also engaged in the electrical construction business and the equipment installation business.
Seiko Electric Co., Ltd. cancelled the acquisition of Trytec Co., Ltd. from 9 Stage No. 3 Investment Limited Partnership managed by Fukuoka Capital Partners Co., Ltd.