Port Inc. (TSE:7047) agreed to acquire 50.91% stake in INE Co., Ltd. from Keiji Ito, Hikari Tsushin, Inc. (TSE:9435), Masahiro Tazaki and Takaaki Okamoto for ¥2.03 billion on November 26, 2021. Keiji Ito, Hikari Tsushin Co., Ltd., Masahiro Tazaki and Takaaki Okamoto will sell 30.31%,18.18%,1.21% and 1.21% respectively. Port Inc will raise funds to acquire the shares of INE from MUFG Bank, Ltd. For the period March 31, 2021, INE Co., Ltd reported net assets of ¥717 million, total assets of ¥1.7 billion, sales of ¥3.2 billion, operating profit of ¥592 million, net income of ¥402 million.

The transaction is resolved by the board of Port Inc. Transaction is expected to close on January 4, 2021.