Omron to Buy Chinese Maker of Smart-Grid Components, Nikkei Says

Omron Corp. (6645) will buy all the shares in Shanghai Best Electric Appliance Manufacturing Co. from its founders for an estimated “a few billion yen,” the Nikkei reported, without saying where it got the information.

Omron, a Japanese maker of electric parts, plans to turn the Chinese maker of smart-grid components into a wholly owned unit as soon as the end of October once it gets approval from Chinese authorities, the news paper reported.

To contact the reporters on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net;

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net;

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