NPR-RIKEN CORPORATION [6209.T]
TOKYO, Apr 13 (Pulse News Wire) – NPR-RIKEN Corporation (6209.T) announced today that its subsidiary, Riken Corporation of America (RCA), acquired all outstanding shares of Hastings Holding Corp. (HHH).
As a result, HHH will become a subsidiary of RCA. The acquisition was approved during the board meeting held. HHH operates through subsidiaries Hastings Manufacturing Company in Michigan, USA, and Piston Rings Komarov s.r.o. in the Czech Republic. It holds strong brand recognition and significant market share in the repair parts sector, particularly in North America.
With this acquisition, NPR-RIKEN aims to enhance its competitive position in the piston ring industry and increase market coverage and customer satisfaction. The transaction involves acquiring all issued shares of HHH, making it a consolidated subsidiary of NPR-RIKEN. Details of the purchase price remain confidential due to non-disclosure agreements. The final price was determined based on third-party due diligence results and stock valuation outcomes, and was approved by the board of directors. This acquisition is expected to positively impact NPR-RIKEN's long-term enterprise value but will not affect the fiscal year ending March 2026.
An assessment of the impact on the fiscal year ending March 2027 is ongoing, and any significant findings will be disclosed promptly.
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