SWCC To Buy Out Furukawa's Stake In SFCC, Ending Five-Year JV

(RTTNews) - 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.