On November 19, 2024, SPK Corporation (Stock Code: 7466) announced at its Board of Directors meeting that it has decided to acquire all shares of BLITZ Co., Ltd., making it a wholly-owned subsidiary. Through this M&A, SPK aims to further enhance its business value.
Purpose of M&A
BLITZ Co., Ltd., established in 1981, specializes in the development and sales of automotive tuning parts. Its "BLITZ" brand is widely recognized both domestically and internationally for its originality and high reliability. On the other hand, SPK Corporation has established itself as a specialized trading company in the automotive aftermarket parts industry and is working towards transitioning into a "Global Mobility Business Trading Company" as part of its Vision 2030 strategy.
SPK plans to leverage BLITZ’s strong brand and product development capabilities, integrating them with its own global sales network and procurement strengths to generate synergies and enhance the overall business value of the group. Additionally, by expanding its business domains, SPK aims to create new market opportunities and further strengthen its competitiveness.
Acquisition Terms
Number of Shares Acquired: 32,000 shares (100% ownership)
Acquisition Cost:
• Share Purchase Price: JPY 3,229 million
• Advisory and Other Costs (Estimated): JPY 105 million
• Total: Approximately JPY 3,334 million
Schedule
Board Resolution Date: November 19, 2024
Agreement Signing Date: November 20, 2024 (Planned)
Share Transfer Execution Date: November 20, 2024 (Planned)
