Nojima Corporation agreed on 21 April to acquire 80.1% of a new company that will hold Hitachi's home appliance business, paying about ¥110bn in what Jiji Press described as the retailer's largest acquisition.
Why Nojima Corporation is buying Hitachi home appliance business (80.1%)
Hitachi said Nojima's sales and service frontline would capture customer feedback while Hitachi's manufacturing technology would bring better products to market faster. Nojima aims to sell higher-value white goods in Japan and abroad.
Deal terms and financing
Hitachi Global Life Solutions will transfer the appliance business into a new company by an absorption-type company split and sell 80.1% to a Nojima-managed special purpose company, retaining 19.9%. The consideration of about ¥110bn is subject to adjustments. The new company will take over Hitachi GLS's agreement to buy Arçelik's 60% stake in Arçelik Hitachi Home Appliances, giving it full ownership of the overseas business.
Regulatory approvals and timing
The transfers are expected to complete during the fiscal year ending 31 March 2027, after clearances under competition laws and other regulations.
Market context
Hitachi Global Life Solutions, which also houses air conditioning, reported revenue of ¥367.6bn for the year to March 2025 and about 5,100 consolidated employees. Hitachi said the sale would have no material impact on its consolidated results.
