Gendai Agency Inc. (JASDAQ:2411) entered into a basic agreement to acquire Rita Co., Ltd. from Naoya Fujimoto on February 14, 2020. Gendai Agency will acquire all 300 shares of Rita Co as a part of the transaction. Rita Co will operate as a subsidiary of Gendai Agency post acquisition. The transaction is expected to complete by end of February 2020. The impact of this project on the consolidated financial results for the fiscal year ended March 31, 2020 will be minor. Gendai Agency Inc. (JASDAQ:2411) cancelled the acquisition of Rita Co., Ltd. from Naoya Fujimoto on February 17, 2020. As of February 17, 2020, Rita shareholders offered to withdraw their intention to sell shares, and Gendai decided that it was impossible to continue negotiations further, so it was decided that it would be impossible to continue negotiations with Rita Corporation.