TYO:7287

Nippon Seiki Europe to Transfer Software Development Unit to FPT Poland

Nippon Seiki (TYO:7287) subsidiary Nippon Seiki Europe agreed to transfer its software development business to FPT Poland on Oct. 2, according to a Tokyo bourse filing on Wednesday.The parties did not disclose the transfer price.The move looks to optimize the transportation equipment maker's management resources and raise operational efficiency in its European business.Nippon Seiki Europe is engaged in the sales, design and development of instruments for automobiles and motorcycles in Europe.FPT Poland is a newly established company by the Vietnam-based FPT (HOSE:FPT) group.Shares of Nippon Seiki fell more than 3% in recent trade.