As One Corp. (TSE:7476) signed an agreement to acquire 51% stake in Tryumph21.Co., Ltd. from JGC Corporation (TSE:1963) for ¥1.5 billion on February 9, 2018. Under the terms of the transaction, As One Corp. will acquire 3,060 shares of Tryumph21.Co., Ltd. Upon completion, Tryumph21.Co., Ltd. will become subsidiary of As One Corp. For the year ended March 2017, Tryumph21.Co., Ltd. reported total assets of ¥3.7 billion, net assets of ¥534 million, sales of ¥14.1 billion, operating income of ¥166 million, and net income of ¥117 million. The transaction was resolved by the board of directors of As One Corp. on February 9, 2018. The transaction is expected to close on March 30, 2018.

As One Corp. (TSE:7476) completed the acquisition of 51% stake in Tryumph21.Co., Ltd. from JGC Corporation (TSE:1963) on March 30, 2018.