Gokurakuyu Holdings Co., Ltd. (JASDAQ:2340) signed a basic agreement to acquire Hot-Bath Business of Takachiho Co., Ltd. on April 24, 2019. The consideration will be paid in cash. Under the terms of the transaction, Gokurakuyu Holdings Co., Ltd. will establish a new company by the name of GOKURAKUYU East Japan, LLC on May 16, 2019 to take over the Hot-Bath Business. As of July 1, 2019, Gokurakuyu Holdings Co., Ltd. completed the acquisition of 4 stores namely Meike Yuttarien, Makio Yuttarien, Tomiya Yuttarien and Hanyuu Yuttarien. The remaining one store will be transferred as soon as the approval of the permit is confirmed. For the FY March 2019, Hot-Bath Business has sales of ¥1.4 billion. The transaction was resolved by the Board of Gokurakuyu Holdings Co., Ltd. on April 24, 2019. The transaction is expected to close on July 1, 2019.