Jesco Holdings, Inc. (TSE:1434) agreed to acquire 64.5% stake in Magna Telecommunication Industries Co., Ltd. from Hideki Suemura on March 22, 2023. As part of transaction, Jesco will acquire 49,900 shares. Prior to transaction, Hideki Suemura will acquire remaining shares of Magna from remaining shareholders.

Contract date is scheduled on March 22, 2023. The transaction is expected to complete on March 28, 2023.