Earth Chemical Co., Ltd. (TSE:4985) entered into a contract to acquire 34.15% stake in Protoleaf Inc. from Hyponex Japan Corp., Ltd. for approximately ¥270 million on March 24, 2017. As a part of the transaction, Earth Chemical Co., Ltd. will acquire 153 shares. During the year ended June 2016, Protoleaf Inc. had net assets of ¥65 million, total assets of ¥1.8 billion, sales of ¥2.89 billion, operating loss of ¥46 million, and net loss of ¥63 million. The Board of Directors of Earth Chemical Co., Ltd. made a resolution in favor of the transaction on March 24, 2017. The scheduled closing date is March 28, 2017. Earth Chemical Co., Ltd. (TSE:4985) cancelled the acquisition of 34.15% stake in Protoleaf Inc. from Hyponex Japan Corp., Ltd. on March 24, 2018.