Meiko Electronics Co., Ltd. resolved to acquire 60% stake in Towada Electronics Vietnam Co., Ltd for ¥800 million.
September 02, 2019
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Meiko Electronics Co., Ltd. (JASDAQ:6787) resolved to acquire 60% stake in Towada Electronics Vietnam Co., Ltd for ¥800 million on September 3, 2019. Post completion, Towada will become a subsidiary of Meiko. For the year ended March 2019, Towada has net assets of ¥567 million, total assetsd of ¥3.8 billion, sales of ¥5.8 billion and ordinary income of ¥12 million. Date of resolution of the Board of Directors of Meiko is September 3, 2019. Equity transfer date is October 2019.
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.
MEIKO ELECTRONICS CO., LTD. 
