Japan Elevator Service Holdings Co.,Ltd. (TSE:6544) entered into an agreement to acquire Kansai Elevator Co., Ltd. from Colors Japan, K.K. for approximately ¥590 million on October 14, 2020. Japan Elevator Service Holdings will pay ¥593 million for common stock of Kansai Elevator and approximately ¥1.9 million as Advisory fees. Japan Elevator Service Holdings Co.,Ltd. will acquire 200 shares of Kansai Elevator Co., Ltd. Kansai Elevator generated the revenue of ¥405.4 million, operating income of ¥34.3 million, net income of ¥8.2 million, total assets of ¥1.13 billion and net assets of ¥63.3 million for the fiscal year ending September 2019. The Board of Directors of Japan Elevator Service Holdings resolved the transaction. The transaction is expected to complete in November 2020. The impact of this matter on the consolidated financial results of Japan Elevator Service Holdings for the current fiscal year will be minor.