Ryobi is the latest power tool brand to be acquired by Kyocera, which snapped up Senco (now KYOCERA SENCO Industrial Tools) in the summer.
By January 2018, Kyocera Corporation will have acquired the majority of shares of a company to be established from the company split of Ryobi Limited's power tool business.
Ryobi's range includes outdoor products as well as power tools, including drills, drivers and saws. Kyocera aims to promote diversification and further expansion of its cutting tool business through the buy out.
"By acquiring the power tool business from Ryobi, which has a strong market position in Japan and Asia encompassing a wide range of products with highly advanced technologies, Kyocera aims to take advantage of synergies with its relevant group companies in order to expand sales globally."
Expanding cutting tool sales globally has been a long-term aim of Kyocera since it entered the market over 40 years ago. Kyocera has been focusing its efforts on diversifying and expanding sales of products from its core of indexable tools to solid carbide tools, woodworking tools, as well as power tools for the construction industry.
Previous to the Senco acquisition, Kyocera bought the Unimerco Group in Europe (now KYOCERA UNIMERCO) in 2011.