TOKYO, Mar 30 (Pulse News Wire) – OTEC Corporation (1736.T) announced today that its board of directors decided to acquire all shares of KTS Co., Ltd., making it a subsidiary. The acquisition aims to enhance operations in the HVAC control systems sector within the Tokyo area.
KTS Co., Ltd., founded on July 3, 2001, specializes in commissioning adjustments, maintenance, and program design for HVAC control systems. With a capital of ¥3 million, the company's recent performance shows sales of ¥182.3 million, ¥192.9 million, and ¥190.0 million for fiscal years ending May 2023, 2024, and 2025 respectively. Operating profits stood at ¥9.7 million, ¥13.0 million, and ¥14.4 million during the same periods. Under the agreement, OTEC Corporation will purchase 60 ordinary shares of KTS Co., Ltd.
For an estimated amount of ¥17 million, bringing the total cost to ¥217 million. Post-acquisition, OTEC will hold 60 shares, representing 100.0% percent of voting rights. Key milestones include the signing of the share transfer contract on July 03, 2001 and the expected completion of the transaction on March 31, 2026. The acquisition is anticipated to have a minor impact on OTEC’s non-consolidated earnings.
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