CRESTEC Inc. (TSE:7812) agreed to acquire 20% stake in Suzhou Crestec Printing Co., Ltd. for CNY 17.17 million on May 29, 2020. As per the terms of the transaction. Transaction is subject to approval from chinese authorities.

Transaction is expected to close in late June. The impact of the acquisition of equity interest on the financial results for the fiscal year ending June 2020 is expected to be minimal.