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SONOCOM falls back despite announcement of acquiring precision electroforming business from Maxell◇
SONOCOM CO.,LTD. <7902> declined. After the close of trading on the 27th last week, the company announced it would acquire the EF2 (Electro Fine Forming: precision electroforming) business from Maxell, Ltd. <6810> by mid-July, but positive reaction to this news appeared limited amid weak market sentiment.
Maxell will establish a new wholly-owned subsidiary and transfer the business to it, after which SONOCOM will acquire 100% of the new company's shares. The acquisition price is approximately \930 million. The purpose is to create synergies with existing businesses by acquiring advanced precision microfabrication technology and customer base, thereby strengthening competitiveness in the precision processing field and expanding business domains. The company noted that the impact on SONOCOM's earnings is currently under review.
Note: The "◇" symbol at the end of the title indicates that this article contains multiple stock issues.
Source: MINKABU PRESS
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