Kozosushi Co., LTD. (JASDAQ:9973) agreed to acquire Delis Inc. from Tomoatsu Ido and others for approximately ¥270 million on April 23, 2018. Kozosushi will acquire 0.059 million shares of Delis and will issue its 59.2 shares for each share of Delis. A total of 3.49 million shares will be issued by Kozosushi. Tomoatsu Ido holds 82.7% stake in Delis. Post transaction, Delis Inc. will become wholly-owned subsidiary of Kozosushi Co., LTD. Delis inc reported total assets of ¥167 million, net liabilities of ¥377 million, sales of ¥483 million and operating income of ¥23 million for the year ended February 28, 2018. The transaction is subject to approval by shareholders of Delis Inc. at a meeting to be held on May 2, 2018. The transaction is approved by the board of Kozosushi Co., LTD on April 23, 2018. The agreement is expected to be signed on May 2, 2018 and is expected to close in June, 2018. Kawano Certified Public Accountants acted as valuer for Kozosushi Co., LTD. Kozosushi Co., LTD. (JASDAQ:9973) cancelled the acquisition of Delis Inc. from Tomoatsu Ido and others on April 23, 2019.