# Mitsubishi & Co. to acquire 30% stake in Okamoto Machine Tool Works for ¥9.8B

Mitsubishi & Co. has decided to subscribe to a third-party allocation of new shares by Okamoto Machine Tool Works, Ltd., acquiring a 30% voting stake for 9.8 billion yen, making Okamoto an equity-method associated company. A capital and business alliance agreement was concluded on May 22, 2024.

- Type: Acquisition
- Announced: 2024-05-22
- Where: Japan
- Value: $63.0M (9.80B JPY)
- Status: announced
- Products: machine tools, surface grinding machines, wafer polishing machines
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md), [Semiconductors and Industrial Electronics](https://endata.com/sectors/semiconductors-electronics.md)

## Companies

- [Mitsubishi & Co.](https://endata.com/companies/23005.md) (acquirer)
- [Okamoto Machine Tool Works](https://endata.com/companies/72905.md) (target)

## Sources

- [mitsubish.co](https://www.mitsubish.co/jp/en/release/2024/1249215_14372.html), 2024-05-22: "Mitsubishi & Co., Ltd. has decided to subscribe to a third-party allocation of new shares by Okamoto Machine Tool Works, Ltd. and have concluded a capital and business alliance agreement."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.