Sumitomo Electric Industries to acquire the remaining stake in Nissin Electric and Techno Associe.

Sumitomo Electric Industries, a manufacturer of electric wire and optical fiber cables, agreed to acquire the remaining stake in Nissin Electric, an electrical equipment company, and Techno Associe, a manufacturer and seller of screws. Financial terms were not disclosed. "By making Nissin Electric and TECHNO ASSOCIE its wholly-owned subsidiaries, the Company will further reinforce the Group’s integrated power and will make efforts to further enhance the corporate value of the Group as a whole," Sumitomo.