Dai-Ichi Cutter Kogyo k.k. (TSE:1716) signed a contract to acquire Asire Co., Ltd from Ken’ichi Mori for ¥600 million on May 31, 2019. Under the terms, Dai-Ichi Cutter Kogyo will acquire 300 shares of Asire at ¥2 million per share. Post-acquisition, Asire Co., Ltd will become a wholly owned subsidiary of Dai-Ichi Cutter Kogyo. For the fiscal year ended March 2019, Asire reported total assets of ¥708 million, net assets of ¥262 million, sales of ¥1.2 billion, operating income of ¥53 million and net income of ¥28 million. The transaction has been resolved by the Board of Directors of Dai-Ichi Cutter Kogyo at the meeting held on May 31, 2019. The transaction is expected to close on July 1, 2019. Dai-Ichi Cutter Kogyo will pay an advisory expense of ¥1.5 million. Dai-Ichi Cutter Kogyo k.k. (TSE:1716) cancelled the acquisition of Asire Co., Ltd from Ken’ichi Mori on May 31, 2020.