Iwabuchi Corporation (JASDAQ:5983) entered into an agreement to acquire a 60.62% stake in Suda Seisakusho, K.K. on January 18, 2022. Under the terms, Iwabuchi Corporation will acquire 121,240 shares of Suda Seisakusho, K.K. representing 60.62% stake. For the fiscal year ended March 2021, Suda Seisakusho reported Total assets of ¥1,635 million, Sales of ¥1,175 million, Operating profit ¥83 million and Net Profit of ¥51 million.

Iwabuchi Corporation board approved the transaction. Transaction is expected to close on January 19, 2022