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Nojima to Acquire 80.1% of Hitachi's Home Appliance Unit for 110 Billion Yen

-- Nojima (TYO:7419) has agreed to acquire an 80.1% stake in a newly established company that will absorb Hitachi's (TYO:6501) home appliance business, for a total consideration of 110.1 billion yen, according to a Tokyo bourse filing on Tuesday.

The acquisition of Hitachi Global Life Solutions (Hitachi GLS) will be executed through a special purpose company (SPC), a wholly owned subsidiary of Nojima.

Under the agreement, Hitachi GLS will transfer its home appliance operations to the new company via an absorption-type company split, and Nojima's SPC will then purchase the majority stake.

Concurrently, Hitachi GLS will acquire the remaining 60% of Arcelik Hitachi Home Appliances (AHHA) from Arcelik, giving the new company full ownership of AHHA and consolidating Hitachi's home appliance operations globally.

Nojima aims to combine its customer engagement strengths with Hitachi's manufacturing expertise to deliver high-value-added products and build a globally integrated business model.

The share purchase is expected to be completed during the fiscal year ending March 2027.

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