SWCC Corporation said Thursday its board has approved a plan to acquire Furukawa Electric's 20% stake in Showa Furukawa Cable Co. (SFCC), ending the companies' five-year joint venture.
The transaction will be completed on March 31, 2026, making SFCC a wholly owned SWCC subsidiary.
The JV was formed in 2020 to consolidate sales and logistics amid weakening demand in Japan's construction and electrical equipment markets. In 2022, the partners also integrated parts of their cable manufacturing operations into SFCC to boost efficiency and competitiveness.
Financial terms of the share acquisition have not been determined. SWCC said the move will have minimal impact on its current-year earnings.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.