Di-Nikko Engineering Co., Ltd. (TSE:6635) agreed to acquire a 58% stake in Wuxi Rongzhi Electronics Co., Ltd. from Leewo Investment Group Limited for approximately ¥580 million on October 14, 2022. Execution of equity transfer contract is scheduled on October 31, 2022. For the year ended December 31, 2021, Wuxi Rongzhi Electronics reported sales of ¥6.8 billion, net worth of ¥1.2 billion, Total assets of ¥4.2 billion, operating income of ¥283 million and net income of ¥276 million.

The transaction is expected to complete on November 11, 2022.