JALCO Holdings Inc. (JASDAQ:6625) signed an agreement to acquire 36% stake in SUNTAC Inc. from Sun Corporation (JASDAQ:6736) for ¥36 million on July 1, 2020. JALCO acquired 3,600 shares (36%) of SUNTAC Inc. owned by Sun Corporation for ¥36 million and later although it is subject to suspension (progress of management plan, etc.), in addition to 3,600 shares, 5,000 shares (50%) will be acquired for ¥50 million. The Board of Directors of JALCO passed a resolution for the deal on July 1, 2020. The stock payment date is July 1, 2020. JALCO acquired 36% as of July 1, 2020 and has a right to acquire an additional 50% stake within the period from October 1, 2020 to December 31, 2020. Post completion of both transaction, SUNTAC will operate as a subsidiary of JALCO. The forecasts for consolidated business results for the current fiscal year of JALCO do not include the figures for this deal. The impact on the forecast is immaterial. Sun Denshi Co., Ltd. acted as advisor on the deal.

JALCO Holdings Inc. (JASDAQ:6625) completed the acquisition of 36% stake in SUNTAC Inc. from Sun Corporation (JASDAQ:6736) on July 1, 2020.