Kyocera Corp. to acquire power tool business from Ryobi Ltd.

Kyocera Corp., Kyoto, Japan, announced that it has concluded a basic agreement to acquire the majority of shares of a company to be established from the company split of Ryobi Ltd.’s power tool business. The acquisition is expected to be completed in January 2018. Through the acquisition, Kyocera aims to promote diversification and further expansion of its cutting tool business. By acquiring the power tool business from Ryobi, which has a strong market position in Japan and Asia encompassing a wide range of products with highly advanced technologies, Kyocera aims to take advantage of synergies with its relevant group companies in order to expand sales globally.