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    5486   JP3786200000

HITACHI METALS, LTD.

(5486)
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Hitachi Metals : Bain-led consortium to buy Hitachi Metals for $7.5 billion

04/28/2021 | 05:46am EDT

TOKYO (Reuters) - A consortium led by global private equity firm Bain Capital will buy all the shares of Hitachi Metals Ltd for 817 billion yen ($7.5 billion), Hitachi Ltd's metals subsidiary said on Wednesday.

For Hitachi, which currently owns 53% of Hitachi Metals, the deal is the latest divestiture in a decade-long business overhaul to pivot the business from electronics hardware to digital services.

The Bain-led consortium, which includes two Japanese funds, will offer 2,181 yen per share to buy the 47% of Hitachi Metals not owned by Hitachi at a premium of 15.8% to Tuesday's closing price. It will spend a further 382 billion yen acquiring Hitachi's 53% stake.

Hitachi Metals will be delisted from the Tokyo Stock Exchange.

Hitachi is expecting to book extraordinary profit of 328 billion yen in the current financial year, it said in a separate statement.

Hitachi has sought buyers since last year for the business which has posted net losses for two consecutive years in a deteriorating business environment.

In recent years it has also sold chemical unit Hitachi Chemical Co to Showa Denko and diagnostic imaging business to Fujifilm Holdings Corp.

($1 = 108.9800 yen)

(Reporting by Takashi Umekawa, editing by Louise Heavens and Elaine Hardcastle)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HITACHI METALS, LTD. 0.00% 2152 End-of-day quote.37.42%
HITACHI, LTD. -2.36% 6443 End-of-day quote.58.50%
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Financials
Sales 2022 891 B 8 159 M 8 159 M
Net income 2022 19 675 M 180 M 180 M
Net Debt 2022 122 B 1 113 M 1 113 M
P/E ratio 2022 46,8x
Yield 2022 0,91%
Capitalization 920 B 8 422 M 8 423 M
EV / Sales 2022 1,17x
EV / Sales 2023 1,07x
Nbr of Employees 28 620
Free-Float 44,8%
Chart HITACHI METALS, LTD.
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Hitachi Metals, Ltd. Technical Analysis Chart | 5486 | JP3786200000 | MarketScreener
Technical analysis trends HITACHI METALS, LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 4
Last Close Price 2 152,00 JPY
Average target price 1 994,25 JPY
Spread / Average Target -7,33%
EPS Revisions
Managers and Directors
Mitsuaki Nishiyama Co-Chairman, CEO & Executive President
Hiroaki Nishioka Chief Financial Officer & Head-Administration
Kenichi Nishiie Co-Chairman
Kazuya Murakami Managing Executive Officer, General Manager-R&D
Ryoichi Aida Chief Quality Officer & Head-Technology
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