Nojima to acquire Hitachi appliance business in 110bn-yen deal
Retailer Nojima will buy an 80.1% stake in a new company housing Hitachi’s household appliance business, while preserving the brand and jobs.
- Japanese retailer Nojima Corp. will acquire Hitachi Ltd.'s household appliance business for approximately 110.1 billion yen.
- The deal involves Nojima purchasing an 80.1% stake in a new company created from the spun-off business, with Hitachi retaining the remaining 19.9%.
- The acquisition, Nojima's largest to date, is expected to be completed by March 2027.
- Nojima aims to strengthen its product development with Hitachi's technology, while Hitachi is selling the non-core business to focus on social infrastructure.
Japanese home appliance retailer Nojima Corp. said Tuesday (April 21) 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 introducing 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.
At a press conference in Tokyo, Nojima President Hiroshi Nojima said, "We hope to leverage Hitachi's technology to offer products that meet our customers' needs."
Hitachi Senior Vice President Noriharu Amiya said that the acquisition deal is "a positive decision to grow our household appliance business in the medium to long term amid rapid changes."
While overseas home appliance operations under the Hitachi brand had been operated by a joint venture set up by Hitachi Global Life Solutions and Turkish household appliance maker Arcelik A.S., the new company will operate the overseas business operations. The Hitachi brand and related jobs will be maintained.
Nojima has been expanding its business through mergers and acquisitions. The firm acquired mobile phone seller Conexio Corp. in 2023 for about 85.4 billion yen, as well as made personal computer maker Vaio Corp. its subsidiary in 2025.
Meanwhile, Hitachi has been concentrating on its mainstay social infrastructure business, bidding farewell to non-core operations.
[Copyright The Jiji Press, Ltd.]
