Financial Wire

Nojima Clarifies Hitachi Unit Acquisition Report, Says Deal Under Consideration

-- Nojima (TYO:7419) said while it is considering acquiring at least a majority stake in Hitachi Global Life Solutions, a unit of Hitachi (TYO:6501), no official decision has been announced yet.

The consumer electronics company was responding to a Nihon Keizai Shimbun report claiming that the electronics retailer had decided to proceed with the acquisition for over 100 billion yen, according to a Tokyo bourse filing on Tuesday.

Nojima further clarified that the report was not based on any company announcement.

The matter is scheduled for discussion at a Board of Directors meeting later today, and Nojima has committed to making an official disclosure if any disclosable matters arise.

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