Ai Holdings Corporation agreed to acquire remaining 67.20% stake in Iwatsu Electric Co., Ltd. from Hongkong And Shanghai Banking Corporation Limited, Japan, Mitsubishi UFJ Financial Group, Inc., The Master Trust Bank of Japan, Ltd., Custody Bank of Japan, Ltd., Nippon Life Insurance Company and Meiji Yasuda Life Insurance Company.
May 30, 2024
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Ai Holdings Corporation (TSE:3076) agreed to acquire remaining 67.20% stake in Iwatsu Electric Co., Ltd. (TSE:6704) from Hongkong And Shanghai Banking Corporation Limited, Japan, Mitsubishi UFJ Financial Group, Inc. (TSE:8306), The Master Trust Bank of Japan, Ltd., Custody Bank of Japan, Ltd., Nippon Life Insurance Company and Meiji Yasuda Life Insurance Company on May 31, 2024. Upon completion, Ai Holdings Corporation will own 100% stake in Iwatsu Electric Co., Ltd.
Transaction has already been approved by Ai Holdings Corporation's board of director's. The transaction is subject to approval of offer by target shareholders. The expected completion of the transaction is October 1, 2024.
Ai Holdings Corporation is a holding company engaged in manufacturing and sales of information equipment and security equipment businesses. The Company operates through seven business segments. Security Equipment segment engages in development, manufacturing and sales of security equipment. Card Equipment and Other Office Equipment segment provides card issuance equipment for hospitals and financial institutions. Information Equipment segment engages in development, manufacturing, sales and maintenance of computer peripheral equipment, including plotters and scanners. Measuring Device and Environmental Testing Equipment segment provides measuring devices and environmental testing equipment. Design segment engages in the structural and architectural design with a focus on seismic diagnosis. Leasing and Installment segment engages in the brokerage of installment and leasing businesses. The other business engages in development and sales of software.
Ai Holdings Corporation agreed to acquire remaining 67.20% stake in Iwatsu Electric Co., Ltd. from Hongkong And Shanghai Banking Corporation Limited, Japan, Mitsubishi UFJ Financial Group, Inc., The Master Trust Bank of Japan, Ltd., Custody Bank of Japan, Ltd., Nippon Life Insurance Company and Meiji Yasuda Life Insurance Company.
AI HOLDINGS CORPORATION 
