Nojima to Acquire Hitachi's Home Appliance Biz

Tokyo, April 21 (Jiji Press)--Japanese home appliance retailer Nojima Corp. said Tuesday that it will acquire Hitachi Ltd.'s household appliance business for about 110.1 billion yen.

Nojima plans to complete the deal, the largest acquisition for the company, in fiscal 2026, which ends in March 2027.

Through the acquisition, Nojima aims to strengthen its product development capabilities by combining Hitachi's technological expertise with its sales networks and introduce high-value added white goods to markets both in and outside Japan.

Under the deal, Hitachi Global Life Solutions Inc., a Hitachi unit, will spin off its household appliance business to create a new company.

Nojima will purchase an 80.1 pct stake in the new firm, making it a consolidated subsidiary. Hitachi Global Life Solutions will have a 19.9 pct stake in the new company. The Hitachi unit, however, will keep its commercial air conditioning business.

[Copyright The Jiji Press, Ltd.]