Japan Material to acquire all shares of ASKA Electric

Japan Material (TSE:6055) revealed plans to acquire 100,000 shares, representing 100% ownership, of ASKA Electric Co., Ltd. at a board meeting held on May 27, 2025. ASKA Electric, based in Kagoshima, specializes in designing, inspecting, and maintaining satellite and rocket tracking equipment, boasting total assets of JPY1,006 million and net sales of JPY1,105 million for the fiscal year ended July 31, 2024. While the acquisition cost remains undisclosed due to confidentiality agreements, Japan Material states that it is less than 15% of consolidated net assets and that the move will be immaterial to the Group’s financial results. ASKA Electric is expected to become a non-consolidated subsidiary, with the acquisition planned for June 19, 2025. The company aims to leverage ASKA Electric's expertise to strengthen its IT-related capabilities and to utilize the Group's integrated technical services to expand its presence in the space business.