IBJ, Inc. (TSE:6071) signed a contract to acquire Happiness Co., Ltd. from Zenken Corporation for ¥400 million on November 9, 2018. Under the terms of transaction, IBJ, Inc. will acquire 800 shares for ¥400 million. For the year ended May 31, 2018, Happiness Co., Ltd. had sales of ¥1.4 billion, net loss of ¥26.8 million, total assets of ¥190.2 million and net liabilities of ¥1.02 billion. Upon completion, Happiness Co., Ltd. will become a subsidiary of IBJ, Inc. The transaction has been resolved by the Board of IBJ, Inc. The transaction is expected to be completed by January 1, 2019.

IBJ, Inc. (TSE:6071) cancelled the acquisition of Happiness Co., Ltd. from Zenken Corporation on November 9, 2019.