Meiko Electronics Co., Ltd. entered into an agreement to acquire NEC Embedded Products, Ltd from NEC Corporation for ¥11 billion.
July 27, 2022
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Meiko Electronics Co., Ltd. (TSE:6787) entered into an agreement to acquire NEC Embedded Products, Ltd from NEC Corporation (TSE:6701) for ¥11 billion on July 28, 2022. Under the transaction, Meiko Electronics will acquire 403,800 equity shares of NEC Embedded Products, Ltd. For the year ending March 31, 2022, NEC Embedded Products, Ltd reported revenue of ¥14.03 billion and net assets of ¥3.61 billion, total assets of ¥9.98 billion and operating loss of ¥184 million. The transaction is expected to complete on October 1, 2022.
Daiwa Securities Co. Ltd. acted as financial advisor to Meiko Electronics Co., Ltd.
Meiko Electronics Co., Ltd. is a Japan-based company mainly engaged in the electronics-related business. The Company is engaged in the pattern design, manufacture and sale of electronic circuit boards, the manufacture of dies, the manufacture and sale of testing equipment, the development and manufacture of circuit board testing machines, the assembly of circuit boards, as well as the manufacture and sale of multi-video-processors. As of March 31, 2013, the Company had 10 consolidated subsidiaries and two nonconsolidated subsidiaries. In July, 2014, the Company established subsidiary Meiko Electronics Thang Long Co., Ltd.