MINEBEA SELLS ITS SHARES IN SANKYO SEIKI TO TOKYO PIGEON

Minebea Co, which ended up with an 18% stake in Sankyo Seiki Co after its failed attempt to acquire the company in 1985 (CI No 254), has sold the shares to tape recorder parts maker Tokyo Pigeon for $124m, making a loss on its investment: Sankyo Seiki supplies IBM with low-end robot arms, makes floppy disk drives and electric motors – and is also claimed to be the world’s largest manufacturer of musical boxes.

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