Nippon Piston Ring Co., Ltd. (TSE:6461) agreed to acquire Normeca Asia Co., Ltd. from Ryo Senda, President and Chief Executive Officer of Normeca Asia Co., Ltd. on December 24, 2021. Nippon Piston Ring will acquire 1,980 shares of Normeca Asia Co., Ltd. Ryo Senda plans to acquire all of Normeca's shares held by shareholders other than him by the date of the transfer of shares. Normeca Asia Co., Ltd. reported net assets of ¥515 million, total assets of ¥2.3 billion, sales of ¥3.8 billion and net profit of ¥300 million for the financial year ended March 31, 2021. Contract is scheduled to sign on December 24, 2021 and transaction is expected to complete on January 11, 2022. The impact of the acquisition of shares on Nippon Piston Ring's consolidated financial results for the fiscal year ending March 2022 will be minor.

Nippon Piston Ring Co., Ltd. (TSE:6461) completed the acquisition of Normeca Asia Co., Ltd. from Ryo Senda, President and Chief Executive Officer of Normeca Asia Co., Ltd. on January 11, 2022.