Japan's Minebea to acquire Mitsumi Electric

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The two companies will aim for a corporate structure that enhances their development capabilities that enable them to create unique products and provides solutions by gathering both companies' technological capabilities, Minebea said in a statement.

The integration is expected to be complete by April 2017 and Minebea's Chief Executive Yoshihisa Kainuma will be the chairman and president of the new company, Minebea Mitsumi, it said.

(Reporting by Ritsuko Ando and Kaori Kaneko; Editing by Biju Dwarakanath)