Japan Excellent, Inc. (TSE:8987) agreed to acquire a 70% stake in Sapporo Otemachi Building for ¥4.1 billion on November 26, 2021. The consideration will be paid in lump-sum payment upon delivery. The transaction will be funded from funds on hand. The property generates a monthly rent of ¥18.51 million. The transaction is expected to close on December 1, 2021. The impact of this transaction on the forecast performance for the periods ending December and ending June 2022 is considered negligible and there is no change to the forecasts.