Okaya & Co. Ltd. agreed to acquire an additional 88.64% stake in Nishifu Meat Co.,Ltd. from Naomi Watanabe.
April 24, 2014 at 12:00 am EDT
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Okaya & Co. Ltd. (NSE:7485) agreed to acquire an additional 88.64% stake in Nishifu Meat Co.,Ltd. from Naomi Watanabe on April 24, 2014. Okaya will acquire 1,171 shares, raising its stake to 98.71% (1,304 shares) from 10.07% (133 shares).
During the period ended September 2013, Nishifu Meat had sales of ¥4.9 billion. The transaction is expected to close in May.
Okaya & Co Ltd mainly offers various products of iron and steel, information and electronics, industrial materials, living products and others. The Company operates in four business segments. The Steel segment provides iron scraps, steel bars, steel piles, wide flange beams, steel plates, steel pipes and carbon steels for machinery structure. The Information and Electric segment provides copper, aluminumrare earths, electronic parts, general-purpose electrical products, video equipment, semiconductors and electronic-related products, as well as develops and sells software. The Industrial Materials segment offers machine tools, industrial tools and robots, automobile parts, synthetic resin materials, resin molding products, environment and recycling treatment facilities, as well as semiconductors and electronics-related facilities and equipment. The Living Industry segment is involved in the manufacture and sale of piping, housing materials and housing equipment, among others.