Recom Co., Ltd. is acquiring an 80% stake in Singapore's Lumitron Pte. Limited, a leading provider of lighting solutions, to expand its operations within the Southeast Asian market.
Target Information
Recom Co., Ltd. (code: 3323), based in Japan, has made a strategic move to enhance its business operations by acquiring Lumitron Pte. Limited, a Singapore-based company that specializes in lighting devices and lighting control systems. Lumitron primarily serves clients in governmental facilities and healthcare sectors, showcasing its ability to operate in highly regulated and necessary markets. For the fiscal year ending December 2024, Lumitron reported revenues of JPY 1.11 billion, operating income of JPY 147 million, and net assets of JPY 557 million.
The acquisition entails Recom obtaining an 80% stake in Lumitron for approximately JPY 1.04 billion (around SGD 871 million), with the acquisition expected to be finalized by January 9, 2026. This strategic investment aligns with Recom's vision of becoming a leading global trading company by expanding its presence in Southeast Asia.
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Industry Overview in Singapore
Singapore's economy is recognized for its robust infrastructure and business-friendly environment, especially in sectors such as electronics and information technology, which include lighting technology and intell
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Disclosed details
Transaction Size: $9M
Revenue: $10M
EBITDA: $1M
EBIT: $1M
Net Income: $1M
Enterprise Value: $7M
Equity Value: $5M
Multiples
EV/EBITDA: 7.4x
EV/EBIT: 8.1x
EV/Revenue: 0.7x
P/E: 7.3x
P/Revenue: 0.5x