3M announced that it has completed its acquisition, through Sumitomo 3M Ltd., of Sumitomo Electric Industries Ltd.’s 25% interest in Sumitomo 3M Ltd. for 90 billion Japanese yen (approximately $865 million at current exchange rates). 3M is now the sole owner and the business will be known as 3M Japan Ltd.
Sumitomo 3M Ltd. was established in 1961 as a joint venture between 3M, Sumitomo Electric Industries Ltd. and NEC Corp. In 2003, 3M acquired NEC’s 25% stake, which increased 3M’s interest to 75%.
3M Completes Acquisition of Sumitomo Electric Industries Ltd.’s Interest in Sumitomo 3M
Published August 31, 2014
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