Goyo Intex Co., Ltd. signed a share exchange contract to acquire ReCI, Inc. from Noriyuki Suzuki, Akemi Watanabe, Jun Aoyagi and others for ¥130 million.

Goyo Intex Co., Ltd. (JASDAQ:7519) signed a share exchange contract to acquire ReCI, Inc. from Noriyuki Suzuki, Akemi Watanabe, Jun Aoyagi and others for ¥130 million on April 28, 2016. As part of the transaction, Goyo Intex is issuing 21.82 shares for every 1 share of ReCI. Goyo Intex has issued 1.200100 million shares to ReCI as consideration.

Goyo Intex will acquire 55,000 shares of ReCI. ReCI will become a wholly-owned subsidiary. The deal is subject to approval by the shareholders of ReCI on May 20, 2016.

The deal was approved by the Board of Directors of Goyo Intex and ReCI. The deal is expected to close by June 1, 2016. Tokyo Financial Advisers Co., Ltd. acted as third-party calculation organization for Goyo Intex Co., Ltd.