Nippon Pillar Packing Co., Ltd. agreed to acquire Tanken Seal Seiko Co., Ltd. from AG Chorus Limited Partnership, AG Concert Limited Partnership and AG III Investment Limited Partnership managed by Aspirant Group, Inc.
March 21, 2023
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Nippon Pillar Packing Co., Ltd. (TSE:6490) agreed to acquire Tanken Seal Seiko Co., Ltd. from AG Chorus Limited Partnership, AG Concert Limited Partnership and AG III Investment Limited Partnership managed by Aspirant Group, Inc. for ¥6.6 billion on March 22, 2023. The financials for the year ended on October 31, 2022 are total assets ¥5.9 billion, net assets are ¥2.1 billion, revenue are ¥4.6 billion, EBIT of ¥560 million and net profit of ¥380 million. The transaction is expected to close on April 3, 2023.
PILLAR Corp, formerly Nippon Pillar Packing Co Ltd, is a Japan-based company mainly engaged in the manufacture and sale of fluid control related equipment products, mainly PILAFLON products (fluororesin products), mechanical seal products, and gland packing and gasket products. The products are used in industrial fields such as semiconductors and liquid crystal, as well as electricity, petroleum, automobiles, chemicals, ships, civil engineering and construction, food, and pharmaceuticals. The Company operates through two business segments. The Electronic Equipment Related Business segment mainly produces and sells resin-related products such as PILAFLON products. The Industrial Equipment Related Business segment produces and sells mechanical seal products, gland packing and gasket products. The Company also operates office building rental businesses, insurance agency businesses, and electricity sales businesses.
Nippon Pillar Packing Co., Ltd. agreed to acquire Tanken Seal Seiko Co., Ltd. from AG Chorus Limited Partnership, AG Concert Limited Partnership and AG III Investment Limited Partnership managed by Aspirant Group, Inc.