Kanematsu Electronics, a consolidated subsidiary of Kanematsu, has completed its purchase of IDAJ and its subsidiaries, and the final bill came in lower than first announced. Kanematsu said all procedures for the share acquisition are finished.
Price and ownership
Kanematsu Electronics acquired all issued shares of IDAJ and its subsidiaries, which makes them consolidated subsidiaries of Kanematsu. Buying all the shares describes the stake acquired, not the form of payment; the notice does not say how the consideration was settled.
The acquisition cost is ¥49.8bn after a price adjustment under the share transfer agreement, against an approximate ¥50.4bn at the original announcement. Both figures are rounded down to the nearest ¥100mn. The cost includes advisory fees tied to the deal.
Earnings
Kanematsu expects the acquisition to have a minor effect on its consolidated results for the current fiscal period, and said it will disclose promptly anything further that needs reporting. The notice gives no profit or revenue contribution figure for IDAJ.
The terms at announcement are covered in Earlier Tokyo Brief coverage.