ASTI to Sell Full Stake in Zhejiang Subsidiary

TOKYO, Jun 29 (Pulse News Wire) – ASTI Corporation (6899.T) announced that its board of directors, held , resolved to sell its entire stake in Zhejiang Yashidi Electronics Co., Ltd. The move aims to reallocate resources towards more strategic ventures amid China's economic slowdown and increased competition.

Zhejiang Yashidi was established in 1994 to manufacture automotive wiring harnesses and electronic control units. However, due to challenging market conditions, ASTI decided to divest its holding to focus on growth opportunities elsewhere. The subsidiary’s capital stands at $9.15 million (¥1.479 billion). As of March 31, 2026, ASTI owned 100.0% of the shares, which will now be transferred to a domestic Chinese firm. The transaction value is estimated at ¥58 million yuan (¥1.340 billion), resulting in ASTI retaining 0% of the shares post-transfer.

Details of the buyer remain confidential under a non-disclosure agreement. The acquiring entity is confirmed to be a private Chinese enterprise without existing ties to ASTI. The sale is expected to close on September 30, 2026. Regarding future impacts, ASTI projects minimal effects on its fiscal year ending March 2027. Any significant changes will be promptly disclosed.