Hagiwara Electric Holdings Co., Ltd. completed the acquisition of Osaki Engineering Co., Ltd. from Osaki Electric Co., Ltd..
September 29, 2022
Share
Hagiwara Electric Holdings Co., Ltd. (TSE:7467) agreed to acquire Osaki Engineering Co., Ltd. from Osaki Electric Co., Ltd. (TSE:6644) for ¥1.76 billion on August 25, 2022. As per the terms, Hagiwara Electric Holdings will acquire 5,167,120 shares of Osaki Engineering. The acquisition is expected to close on September 30, 2022. The cash generated from the share transfer will be effectively used to grow the smart meters & solutions business, which is the Group's core business.
Hagiwara Electric Holdings Co., Ltd. (TSE:7467) completed the acquisition of Osaki Engineering Co., Ltd. from Osaki Electric Co., Ltd. (TSE:6644) on September 30, 2022. In addition, a resolution was passed to change the trade name to Hagiwara Engineering Co., Ltd.
Hagiwara Electric Holdings Co Ltd is a Japan-based company engaged in the business of purchasing and selling semiconductors and electronic components, the development, manufacture, and sale of electronic equipment, and the construction of various systems. The devices segment is engaged in the sale and technical support of semiconductors and electronic components, including large-scale integration (LSI) systems for automobiles, which are increasingly controlled electronically, as well as the contracted development business centered on proof-of-concept (PoC) development support and embedded software for embedded systems. The solutions business segment sells information technology (IT) equipment, embedded systems, and measuring equipment, builds IT platform platforms and Internet of Things (IoT) systems, and designs, manufactures, and sells various factory automation (FA) and special measuring systems that contribute to automation and labor saving.