Bel Fuse Inc. announced that Bel's 100% subsidiary Bel Ventures Inc. has acquired 4,900,000 shares of stock of Toko, Inc., corresponding to 5.0% of Toko's total outstanding shares, and that Bel therefore has submitted the legally required substantial share holdings report to the Kanto Local Finance Bureau.
The acquisition of Toko stock was conducted through market purchases. Bel has presented to Toko's management ways to combine the respective strengths of the two companies. These conversations commenced approximately six months ago, after Bel acquired over 4% of Toko's outstanding stock. Bel is hopeful that the two companies will resume their discussions to determine how best to maximize shareholder value for both companies. Bel will review its various strategic options before it determines how best to move forward.
