Happinet Corporation (TSE:7552) entered into a contract to acquire Irisawa Corporation on October 9, 2019. Happinet will acquire 22,150 shares. Irisawa will operate as a subsidiary of Happinet. For the year ended January 31, 2019, Irisawa reported sales of ¥5.4 billion, operating income of ¥38 million and net income of ¥23 million. As of January 31, 2019, Irisawa reported net assets of ¥1.03 billion and total assets of ¥2.5 billion. The board of Happinet resolved the transaction on October 9, 2019. The transaction is expected to close on November 1, 2019.