Anabuki Kosan Inc. (TSE:8928) signed share transfer agreement to acquire 98.125% stake in Iyadani Hot Spring Tourism Co., Ltd and 100% stake in Iya Hot Spring Ltd from Yoshihiro Ueta on June 1, 2020. As per terms of transaction, Anabuki Kosan Inc. will acquire 0.157 million shares in Iyadani Hot Spring Tourism Co., Ltd and 10,000 shares in Iya Hot Spring Ltd. Consideration will be in cash. For the year ended March 31, 2020, Iya Hot Spring Ltd. reported total assets of 129.942 million, sales of 29.340 million, net income 2.782 million and operating income of 2.527 million. For the year ended March 31, 2020, Iyadani Hot Spring Tourism Co., Ltd reported total assets of 414.055 million, sales of 364.994 million, net income 5.485 million and operating income of 5.715 million. Transaction is expected to be complete on July 1, 2020. The impact of the acquisition of the shares on the consolidated financial results of the Anabuki Kosan Inc. is immaterial.