Endeavour United Investment Limited Partnership, a fund managed by Endeavour United Co., Ltd. concluded a share transfer contract to acquire Pizza Hut Japan Ltd. and Phoenix Foods Inc. from KFC Holdings Japan, Ltd. (TSE:9873) on May 10, 2017. Under the terms, 2,500 shares, representing 100% stake in Pizza Hut Japan Ltd. and 20 shares, representing 100% stake in Phoenix Foods Inc. will be acquired. For the year ended March 31, 2017, Pizza Hut Japan Ltd. had net assets of ¥647 million, total assets of ¥2.94 billion, sales of ¥14.35 billion, operating income of ¥162 million and net income of ¥40 million.

For the year ended March 31, 2017, Phoenix Foods Inc. had net assets of ¥16 million, total assets of ¥63 million, sales of ¥570 million, operating loss of ¥8 million and net income of ¥31 million. The transaction was resolved by the Board of Directors of KFC Holdings Japan, Ltd. on May 10, 2017 and is expected to close on June 12, 2017.