Hakuten Corporation (JASDAQ:2173) signed a contract to acquire 87.3% stake in Nichinan Co., Ltd from Yukitaka Sugimoto for ¥70 million on August 26, 2021. As per terms of transaction, Hakuten Corporation will acquire 546 shares and post completion, Nichinan Co., Ltd willoperate as a subsidiary of Hakuten Corporation. As on March 31, 2021 Nichinan Co., Ltd reported Net assets of ¥144 million, Total assets of ¥440 million, Sales of ¥187 million, operating income of ¥-41 million and Net income of ¥0 million. Transaction is expected to complete on September 30, 2021. the impact of the acquisition of shares on Hakuten Corporation consolidated financial results for the fiscal year ending March 2022 will be minor.