Japan Pulp and Paper Company Limited (TSE:8032) agreed to acquire remaining 40% stake in Radms Paper Limited from Radms Trustee Limited and eight individual investors for ¥3.7 billion (£27.6 million) on June 19, 2020. As per terms of transaction, Japan Pulp and Paper Company Limited will acquire 3,184 shares from Radms Trustee Limited and eight individual investors. Presently, Radms Paper Limited is held as to 60% by Japan Pulp and Paper and 40% by Radms Trustee Limited and eight individual investors. On completion, Radms Paper Limited will become wholly owned subsidiary of Japan Pulp and Paper Company Limited. For the year ended December 31, 2019, Radms Paper Limited reported net assets of £18.3 million, total assets of £83.4 million, sales of £226.4 million, operating profit of £6.4 million and net income of £3.9 million. Board of Japan Pulp and Paper approved the transaction. Transaction is expected to close on July 6, 2020. The effect of this share acquisition on the Japan Pulp and Paper Company Limited consolidated results for the period ending March 31, 2021 are considered insignificant.