TOKYO Japan's Fujifilm Holdings Corp (4901.T) said on Thursday it will buy Takeda Pharmaceutical's (4502.T) 71 percent stake in Wako Pure Chemical Industries for 154.7 billion yen (1.05 billion pounds) in a bid to expand its healthcare business
Fujifilm will buy the stake through a tender offer bid beginning on Feb. 27 through to April 3, after which it will add Wako to its business as a consolidated subsidiary, the company said in a release through the Tokyo Stock Exchange.
Fujifilm views healthcare in Japan and other industrialized nations as a growth market as populations age and demand for medical services and products grow.
"The acquisition of Wako will be a key milestone for Fujifilm's future business growth," the company said in its statement.
Fujifilm already owns a 9.7 percent stake in Wako, which supplies it with photosensitive films. The company said that the acquisition will not impact its financial results for the year ended March 31.
Takeda in a separate statement said it expects to post a one-time pre-tax gain of about 100 billion yen from the sale, to be booked in the first quarter of the business year starting April 1.
(Reporting by Tim Kelly; Editing by Sunil Nair and Christian Schmollinger)