Ishigaki Foods Co.,Ltd. (TSE:2901) entered into share exchange agreement to acquire remaining 50% stake in Mediart Co., Ltd. from Kenji Mano for ¥151 million on January 1, 2024. As part of transaction, 200 shares will be acquired. Ishigaki Foods will issue 1 million shares as consideration. Ishigaki will issue 5000 shares for every share of Mediart. For period ended September 2023, Mediart reported net worth of ¥130 million, total assets of ¥223 million, sales of ¥238 million, operating income of ¥43 million and net income of ¥32 million. The transaction is expected to complete on February 22, 2024. As of February 16, 2024, the transaction is expected to close on March 25, 2024.

Ishigaki Foods Co.,Ltd. (TSE:2901) completed the acquisiton of remaining 50% stake in Mediart Co., Ltd. from Kenji Mano on March 25, 2024.