Desktop and network services vendor Getronics NV has announced that it has bought the 20% of its Japanese subsidiary that it did not already own.
The Amsterdam-based company said that it would buy out the minority position of Toshiba Solution Corporation for an undisclosed cash amount, making Getronics Japan a wholly owned subsidiary of Getronics NV.
The move is part of its aim to enhance its market presence in Japan. In its second quarter results announced last week, the company said that service revenue margins in Asia Pacific were negatively impacted by a one-off charge on capitalized software in Japan. As a result, earnings before interest taxes and amortization (EBITA) for the region declined to a loss of 2m euros ($2.5m) in Q2 2004 compared to positive EBITA of 3m euros ($3.7m) in Q2 2003 and breakeven in Q1 2004.
