According to the Nikkei Asia, Japanese home appliance retail giant Nojima has decided to acquire the home appliance business of Hitachi.

The acquisition amount is believed to exceed 10 billion yen. Nojima aims to enhance its product development capabilities by acquiring the home appliances manufacturing business. The company plans to distinguish itself from the low-price competition in the home appliances mass market and strives for growth through the sale of high value-added products. Both sides will announce the acquisition news soon. Nojima will acquire at least a majority of the shares of Hitachi Global Life Solution (Hitachi GLS), a subsidiary of Hitachi responsible for Japan’s domestic white goods business, making it a subsidiary. Hitachi may also continue to hold some shares of Hitachi GLS. This will be the largest acquisition project in Nojima's history.