TOKYO, Apr 21 (Pulse News Wire) – Nojima CO.,LTD. (7419.T) decided at its board meeting held on April 21 to acquire shares in a newly established subsidiary of Hitachi Global Life Solutions (Hitachi GLS).
The acquisition involves purchasing shares equivalent to approximately 80.1% of the outstanding shares of the new company through a special purpose vehicle (SPV) set up specifically for this transaction. Under the agreement, Nojima’s SPV will purchase shares representing 80.1% of the new company's outstanding stock in exchange for cash. Additionally, Hitachi GLS signed a share transfer agreement with Arçelik A.S. to acquire all of Arçelik's shares in AHHA, a joint venture focused on overseas home appliance operations. Following necessary regulatory approvals, these transactions will consolidate Hitachi GLS’s domestic and international appliance businesses within the new entity.
This move aligns with Nojima’s strategy to leverage its customer touchpoints and market insights with Hitachi Group’s advanced manufacturing capabilities. By integrating these strengths, Nojima aims to enhance product development and service delivery cycles, ultimately delivering high-value-added appliances under the Hitachi brand. Furthermore, acquiring a stake in AHHA will streamline global operations, accelerating growth strategies in key markets. Details such as the capital structure, management team, and precise financial metrics of the new company remain unspecified pending further developments. The planned share acquisition is scheduled to take place during the fiscal year ending March 2027.
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