Panda Restaurant Group, Inc. conclude a contract to acquire remaining 51% stake in I&P RUNWAY JAPAN Co., Ltd. from Chikaranomoto Holdings Co.,Ltd. (TSE:3561) on January 28, 2022. In a related transaction, Chikaranomoto Holdings agreed to acquire I&P RUNWAY, LLC from PFV RAMEN KITCHEN, LLC. Following completion, Panda Restaurant will hold 100% stake in I&P RUNWAY.

Fiscal year ending March 2021, I&P RUNWAY reported negative net assets of ¥117.1 million, total assets of ¥483.7 million, sales of ¥897.3 million and net loss of ¥97.6 million. The transaction is resolved by the board of directors of Chikaranomoto and is expected to complete on March 1, 2022.