Asahi Eito Co., Ltd. (TSE:5341) agreed to acquire 51% stake in Japan Life Elevation Co., Ltd. from Masaaki Setoguchi for ¥90 million on March 15, 2023. As part of acquisition, 153 shares will be acquired. Asahi will issue 147,645 shares as consideration.

Asahi Eito Co., Ltd. board approved the deal. The delivery of shares is subject to the effectiveness of the securities registration statement under the Financial Instruments and Exchange Act. The transaction is expected to complete on April 5, 2023.