Kinoshita Inc entered into an agreement to acquire 95% stake in I Ceremony Co., Ltd from IKK Inc. (TSE:2198) for approximately ¥380 million on September 13, 2019. Under the terms, 950 shares were acquired as apart of the acquisition. I Ceremony reported a net sales of ¥296 million, total assets of ¥444 million, net assets of ¥305 million, operating income of ¥6 million and net income of ¥4 million for the year ended on October 31, 2018. The transaction was resolved by the board on September 13, 2019. The transaction is expected to close on September 20, 2019. Kinoshita Inc completed the acquisition of 95% stake in I Ceremony Co., Ltd from IKK Inc. (TSE:2198) on October 1, 2019.