Toyo Corporation said on 29 October 2026 that it had agreed to buy all of Aloka, a Japanese maker of radiation-measurement equipment, from investment fund NMC No. 4, without disclosing the price.
Why Toyo Corporation is buying Aloka Co., Ltd.
Toyo said Aloka holds high market shares in its main product areas and serves government agencies, local authorities, hospitals and research institutes. It expects demand to grow from safety management at nuclear plants, radiation use in nuclear medicine, radiation detection for defence and homeland security, and statutory inspection and replacement cycles. Toyo also plans to take Aloka products overseas and develop products for next-generation cancer therapy and fusion power facilities.
Deal terms and financing
The share purchase agreement was signed on 29 October 2026, with completion scheduled for 18 November. Toyo will disclose the acquisition price after completion at the seller's request and will include the impact in forecasts due on 11 November 2026.
Regulatory approvals and timing
Toyo expects Aloka to be consolidated in the first quarter of its year to September 2027.
Market context
Toyo has made M&A a central part of its TY2027 medium-term plan, under which it has bought several businesses. Aloka traces its roots to 1950; the current company was set up in 2021 and is wholly owned by the NMC fund.
