KeyHolder, Inc. (JASDAQ:4712) concluded basic agreement to acquire North River Co.,Ltd. from Yasushi Akimoto, Shinsuke Akimoto, Vernalossom Co., Ltd. and Kyoraku Sangyo Co., Ltd. on May 14, 2020. KeyHolder will acquire 15%, 45%, 35% and 5% stake from Vernalossom, Yasushi Akimoto, KYORAKU Sangyo and Shinsuke Akimoto respectively. As on June 9, 2020, KeyHolder, Inc. entered into a share transfer agreement to acquire 15% stake in North River from Vernalossom Co. The acquisition price of the shares will be covered by cash on hand. Following the transfer of shares, North River Inc. will become a consolidated subsidiary of KeyHolder. KeyHolder, Inc entered into a stock transfer agreement to acquire 35% stake of the remaining 85% in North River from Kyoraku Sangyo Co on June 30, 2020. With the conclusion of this share transfer agreement, in addition to acquiring 50% of all shares in North River. North River is expected to become a consolidated subsidiary of the Company, and Nogizaka46 Godo Kaisha, which holds 50% of the company, will become an affiliated company accounted for by the equity method. The remaining 50% of North River will continue to be negotiated and adjusted with existing shareholders to acquire 100%. As of August 12, 2020, KeyHolder acquired 50% stake in North River. FA Project Inc. entered into agreement to acquire 5% stake in North River on August 12, 2020. Post completion North River will be held as to 95% by Keyholder and 5% by FA Project Inc. For year ended November 30, 2019, North river had Net asset of ¥5.6 billion, Total assets of ¥7 billion, Sales of ¥ 9.6 billion, Operating profit of ¥2.1 billion and Net income of ¥1.9 billion. The Board of Directors of KeyHolder passed a resolution for the deal on June 9, 2020. The planned date of signing of the share transfer agreement is early June 2020. The acquisition of shares will occur on June 10, 2020. On June 30, 2020, The board of Keyholders passed the resolution and the acquisition of shares will occur on July 1, 2020. Completion is expected on August 12, 2020. KeyHolder, Inc. (JASDAQ:4712) cancelled the acquisition of North River Co.,Ltd. from Yasushi Akimoto, Shinsuke Akimoto, Vernalossom Co., Ltd. and Kyoraku Sangyo Co., Ltd. on May 14, 2021.