Exceed World, Inc acquired E&F Co., Ltd. for JPY 0.5 million on February 29, 2016. Under the terms of the transaction, Exceed World acquired 10 shares of E&F which represents 100% stake of E&F. Post the transaction, E&F became a wholly owned subsidiary of Exceed World. Following this transaction, Exceed World adopted the business plan of E&F.

Exceed World, Inc completed the acquisition of E&F Co., Ltd. on February 29, 2016.