[ET Net News Agency, 18 October 2019] FIT Hon Teng Limited (06088) said its subsidiary
FIT Singapore has agreed to acquire 26.83% of the entire equity interest in Kantatsu on a
fully converted basis for a total consideration of JPY5.9 billion.
Kantatsu is a limited liability company established in Japan and is principally engaged
in manufacturing and design of high magnification micro-lens in smartphone, automotive,
medical and industrial applications.
Following the cooperation with Kantatsu on automotive camera products and the in-depth
understanding of Kantatsu's product technology, the company thinks Kantatsu possesses
ultra-precision moulding technology. By studying Kantatsu's high-precision moulding design
and manufacturing process, the company may enhance its moulding precision and technical
expertise, improve product quality and reduce overall cost. The company may also
accelerate its penetration into the high-precision critical components used in industries
such as mobile phone and healthcare. Therefore, the company's increase in shareholding of
Kantatsu will further facilitate the knowledge exchange and deepen cooperation on critical
precision moulding technology between the two parties. (RC)