Fukushima Industries Corp. (TSE:6420) and Showa Denko k.k. (TSE:4004) agreed to acquire panel business of Sanyo Showa Panel System Corporation for approximately ¥520 million on January 9, 2013. Fukushima Industries will acquire 80% stake and Showa Denko will acquire 20% stake.

The expected date of business transfer contract is end of January 2013. For the year ended 2012, panel business had sales of ¥5.9 billion. Board of Directors of Fukushima Industries Corp.

resolved the transaction on January 9, 2013. The transaction is expected to close on April 1, 2013.