Notice of Completion of Acquisition of Shares (Subsidization) of the New Company Established by Corporate Split of Satori Electric Co., Ltd.
August 30, 2024
OTAX Co.,Ltd.
Nippa-cho 1215, Kohoku-Ward, Yokohama, Kanagawa
Shukei TOMITA, President/ CEO
Subject: Notice of Completion of Acquisition of Shares (Subsidization) of the New Company Established by Corporate Split of Satori Electric Co., Ltd.
Dear our stakeholders,
We hereby announce that, as scheduled in the “Notice Regarding the Acquisition of Shares (Subsidiarization) of the New Company Established by Corporate Split of Satori Electric Co., Ltd.”disclosed on May 9, 2024 (*1), we have completed the acquisition of all issued shares of the new company (SHIBA Co., Ltd.) established by the corporate split of Satori Electric Co., Ltd. on August 30, 2024, and have made it a subsidiary.
[For Your Reference]
*1: “Notice Regarding the Acquisition (Subsidiarization) of Shares in the New Company Established by Corporate Split of Satori Electric Co., Ltd.” dated May 9, 2024
https://www.otax-en.com/news/notice-the-acquisition-of-shares-of-satori-subsidiary/
Purpose of the Share Acquisition
Since our founding in 1974, we have continued to grow alongside the manufacturing and sale of industrial switches. Furthermore, as part of our goal to become a global company capable of sustainable long-term growth, we have been expanding our business globally, focusing on East Asia and Southeast Asia. We consider it a key mission to quickly grasp market needs, realize them, and deliver the “products and services required for the times” to our customers in a timely manner.
By combining the development capabilities, product strength, and sales network of this business with our switch operations, we intend to make this business one of the main pillars of our company, thereby expanding our business foundation, strengthening competitiveness, and enhancing customer satisfaction while contributing to society.
We will promptly disclose any further information as it becomes available.
Sincerely yours,
Inquiries Regarding This Announcement
OTAX Co., Ltd.
Hiroshi NARITA, Director
TEL: +81-45-543-5621
