(Adds detail of acquisition)
TOKYO Dec 15 Japan's Fujifilm Holdings Corp
said on Thursday it will buy Takeda Pharmaceutical's
71 percent stake in Wako Pure Chemical Industries for
154.7 billion yen ($1.32 billion) in a bid to expand its
Fujifilm will buy the stake through a tender offer bid
beginning on Feb. 27 through to April 3, after which it will add
Wako to its business as a consolidated subsidiary, the company
said in a release through the Tokyo Stock Exchange.
Fujifilm views healthcare in Japan and other industrialized
nations as a growth market as populations age and demand for
medical services and products grow.
"The acquisition of Wako will be a key milestone for
Fujifilm's future business growth," the company said in its
Fujifilm already owns a 9.7 percent stake in Wako, which
supplies it with photosensitive films. The company said that the
acquisition will not impact its financial results for the year
ended March 31.
Takeda in a separate statement said it expects to post a
one-time pre-tax gain of about 100 billion yen from the sale, to
be booked in the first quarter of the business year starting
($1 = 117.4700 yen)
(Reporting by Tim Kelly; Editing by Sunil Nair and Christian