Arclands Corporation (TSE:9842) entered into a share exchange agreement to acquire remaining 44.97% stake in Arcland Service Holdings Co., Ltd. (TSE:3085) from Custody Bank of Japan, Ltd., The Master Trust Bank of Japan, Ltd., SMBC Nikko Securities Inc., BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC), Moritaka Sakamoto, Kiyoko Usui and Hisashi Ito for ¥42.7 billion on April 14, 2023. As reported, Arclands Corporation will issue 26,768,217 shares as consideration. The share exchange is subject to Board and shareholders? approval from Arcland Service Holdings Co., Ltd. and Arclands Corporation. A shareholder meeting is expected to be convened on June 22, 2023, for Arcland Service Holdings Co shareholders to review and approve the transaction. At the ordinary general meeting of shareholders of Arclands Corporation held on May 25, 2023 and the extraordinary general meeting of shareholders of Arcland Service Holdings Co. held on June 22, 2023, the proposal regarding the approval of the share exchange agreement has been approved. Arcland Service Holdings Co is expected to be delisted on August 30, 2023. The scheduled implementation date of the share exchange is September 1, 2023. DC Advisory Japan acted as financial advisor to Arcland Service Holdings Co. Mori Hamada & Matsumoto LPC and TMI Sogo Law Offices acted as legal advisors to Arclands Corporation.

Arclands Corporation (TSE:9842) completed the acquisition of remaining 44.97% stake in Arcland Service Holdings Co., Ltd. (TSE:3085) from Custody Bank of Japan, Ltd., The Master Trust Bank of Japan, Ltd., SMBC Nikko Securities Inc., BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC), Moritaka Sakamoto, Kiyoko Usui and Hisashi Ito on August 29, 2023.