To whom it may concern,

July 28, 2022
Company name:Name of representative:
Contact:
Phone:

Meiko Electronics Co., Ltd.
Yuichiro Naya, President and CEO(Code: 6787, Prime Market of theTokyo Stock Exchange
Shunichi Ojima
Corporate Communications Dept.
0467-76-6001

Announcement of Acquisition of NEC Embedded Products, Ltd. Shares(Making it a Wholly Owned Subsidiary)
Meiko Electronics Co., Ltd. (hereafter the “Company”) announces that it made an institutional decision today toacquire the shares (100% equities) of NEC Embedded Products, Ltd. (hereafter “NECEP”).
1. Reasons for Share Acquisition
The Company has embraced "Providing the best products and services to customers, and happiness for
employees and society through manufacturing” as its management philosophy. To that end, we are taking on thechallenge in the field of advanced electronics in terms of electronic PCBs, expanding and strengthening our EMS
business, thereby aiming to contribute to our customers. In its medium-term management plan released on May
19, 2022, the Company has set forth a strategy to position and strengthen electronic PCBs and semiconductor
package boards for automotive and smartphone applications, and the EMS business as new pillars in its businessdomain.
NECEP is capable to handle orders for a wide variety of electrical and electronic equipment utilizing its embedded
product development capabilities and cutting-edge technologies. Namely, it has a unique competitive advantage inconsistent entrusted operations from development and design to mass production, as well as in high-quality andhigh-reliability manufacturing capabilities. We believe that NECEP is the best strategic partner for our businesses,
based on the fact that the addition of NECEP to the Group will enable it to establish an ODM-type EMS businessstructure with development and design functions, and to realize a proposal-based business structure targeting
electronic PCBs to high value-added electronic products.
In order to expand the EMS business, going forward, the Company will promote collaboration between theelectronic PCBs business and the EMS plants in Vietnam conducting development, design and mass production.
Furthermore, the Company will work on building a system that can respond promptly to all needs, including formass production and small- to medium-lot orders, by managing EMS factories in Japan and implementing inhouse evaluation and prototype development. We strive to provide our customers with the maximum level ofservices to further enhance the corporate value of the Group.
2. Outline of the Subsidiary Subject to Change (NECEP)(1) Name
NEC Embedded Products, Ltd.
(2) Address
808-33, Arukadia 1-chome, Yonezawa-shi, Yamagata Prefecture(3) Name and title of representative
Atsushi Ohashi, President and CEO
Development, design, manufacture of electronics applicationequipment, machinery and instruments, all kinds of equipment,(4) Nature of businessmachinery, instruments and systems related to electricity,equipment, machinery, instruments and system, and entrusted
work, sale and maintenance thereof.
(5) Capital
400 million yen(6) Established
July 9, 2001
(7) Major shareholders and shareholding
NEC Corporation 100％
ratio
CapitalNot applicable
Personnel
Not applicable(8) Relationship with the Company
The Company sells electronic PCBs toBusinessNECEP.
(9) Non-consolidated operating results and financial position over the past 3 years
Fiscal year ended
Fiscal year ended
Fiscal year ended
Fiscal term
March 31, 2020
March 31, 2021
March 31, 2022
Net assets (millions of yen)
4,738
3,915
3,603

Total assets (millions of yen)
Net assets per share (yen)
Revenue (millions of yen)
Operating profit (loss) (millions of yen)
Ordinary profit (loss) (millions of yen)
Earnings per share (loss) (yen)Dividends per share (yen)13,094
11,734.66
19,589937
935
1,646.62
1,481

10,776
9,697.74
13,992(24)0(555.92)
484

9,981
8,924.99
14,027(184)(203)(288.75)
03. Outline of the Counterparty to the Share Acquisition(1) NameNEC Corporation(2) Address
7-1, Shiba 5-chome, Minato-ku, Tokyo(3) Name and title of representative
Takayuki Morita, President and CEO
Public Solutions Business, Public Infrastructure Business,(4) Nature of businessEnterprise Business, Network Services Business and GlobalBusiness(5) Capital
427,831 million yen(6) Established
July 17, 1899
CapitalNot applicable
Personnel
Not applicable(7) Relationship with the Company
The Company sells electronic PCBs toBusiness
NEC Corporation.
(8) Consolidated operating results and financial position over the past 3 years
Fiscal term
Fiscal year ended Fiscal year ended Fiscal year ended
March 31, 2020
March 31, 2021
March 31, 2022
Consolidated net assets (millions of yen)
1,114,523
1,561,826
1,786,642
Consolidated total assets (millions of yen)
3,123,254
3,668,564
3,761,733
Consolidated net assets per share (yen)*
3,508.16
4,800.67
5,555.04
Consolidated revenue (millions of yen)
3,095,234
2,994,023
3,014,095
Consolidated operating profit (millions of yen)
127,609
153,759
132,525
Consolidated net profit attributable to owners
99,967
149,606
141,277of the parent (millions of yen)
Consolidated earnings per share (yen)385.02557.18518.54
Dividends per share (yen)
70.0
90.0
100.0
* Equity attributable to owners of the parent
4. Equity to be Acquired, Acquisition Cost and Shareholding Status before and after the Acquisition(1)
Shareholding ratio before change
0 shares (Ratio of voting rights: 0%)(2)
Equity to be acquired
403,800 shares (Ratio of voting rights: 100%)(3)
Acquisition cost (estimated)
Shares
11,000 million yen
Advisers
200 million yen
Total amount
11,200 million yen(4)
Shareholding ratio after change
403,800 shares (Ratio of voting rights: 100%)
5. Schedule(1)(2)

Date of execution of the agreement
Date of business commencement as
a wholly owned subsidiary

July 28, 2022
October 1, 2022 (tentative)

6. Outlook
The impact of this acquisition on the Company’s consolidated earnings forecast for the fiscal year ended March
31, 2023will be announced immediately after more details become available.