On May 12, the board of director meeting of New Cosmos Electric Co., Ltd. (President: Tetsushi Shigemori) resolved to acquire 66.6% of the shares of Figaro Engineering Inc. (President: Taro Amamoto) which were 100% owned by Tokuyama (President: Hiroshi Yokota) and to make it affiliated. The shares were transferred on July 1 in exchange for the payment of 4.309 billion yen for acquisition.

Figaro Engineering whose head office is located at 1-5-3 Senbanishi, Minoh City, Osaka Prefecture was established in October 1969 with a capital of 99 million yen, being engaged in the R&D and production/sales of gas sensors with an applied-product lineup related to gas sensors. Figaro Engineering, as the world leading company in the gas sensing technology, is supplying its products to the fields of various gas alarms, air quality control, air conditioner, electric appliances for household use and automobiles at home and abroad. Especially CO alarms are actually supplied to the United States of America. As at the end of March FY 2016, the annual sales of Figaro amounted to 5.736 billion yen and the net profit to 363 million yen. Now with the acquisition of the shares this time, Figaro USA, Inc. (Illinois, USA) and Figaro Sensor (Shanghai) Co., Ltd. (Shanghai, China) fully owned by Figaro Engineering will turn out to be a sub-subsidiary of New Cosmos Electric. 　

New Cosmos Electric and Figaro Engineering have been working together for the joint development of gas sensors and also having business relations since years ago. Under the recent serious circumstances of the matured domestic market, intensifying price-cutting competition or the hike of R&D cost, the new affiliate is now aimed to grow the business by integration of the technologies, business knowhow and human resources of both companies to cope with the new market as well as the reinforcement and expansion of the overseas business with upgrading of the technical level and enhancement of product portfolios. For your information, the current system, naming and organization of Figaro Engineering will remain as they are.