Mori Hamada & Matsumoto advises Hitachi Global Life Solutions on the JPY110 billion (USD690 million) reorganisation of its home appliance business as part of its strategic partnership with consumer electronics conglomerate Nojima Corporation.
Media reports say this is Nojima’s largest acquisition to date. Under the reorganisation, Hitachi Global Life Solutions transferred its home appliance business to a newly established entity through a company split. Nojima will acquire an 80.1% stake in the new entity.
Tokyo-based partners Norihito Sato, Daiki Ishikawa and Yuma Adachi led the advisory team.
“The key highlights are that this transaction represents one of the largest remaining carve-out transactions in Hitachi’s broader series of business portfolio reorganisations. At the same time, it is intended to accelerate the growth of Hitachi’s home appliance business through a strategic partnership with Nojima,” Sato told Asia Business Law Journal.
The series of share transfers is expected to be completed during the fiscal year ending 31 March 2027.
