Daikoku Denki Co., Ltd. (TSE:6430) entered into an agreement to acquire 88.1% stake of Global Wise Co., Ltd from GreenTec Co., Ltd. and Nagoya Small and Medium Business Investment & Consultation Co., Ltd. for ¥175 million on October 14, 2022. Understand the terms, the consideration will be paid through common stock. For the year ended March 31, 2022, Global Wise Co., Ltd reported sales volume of ¥13.753 million, operating income of JPY 1.545 million and net income of ¥1.613 million.

Also, as at March 31, 2022, Global Wise Co., Ltd had total assets of ¥156.979 million and net worth of ¥17.121 million. As of October 14, 2022, the board of Daikoku Denki Co., Ltd. approved the transaction. The transaction is expected to complete on December 20, 2022.