S Foods Inc. (TSE:2292) agreed to acquire Naigai Food K.K. from Kitoku Shinryo Co., Ltd. (JASDAQ:2700) on July 26, 2016. For the year ending December 2015, Naigai Food reported net assets of ¥1.2 billion, total assets of ¥2.3 billion, sales of ¥4.3 billion, operating income of ¥41 million and net income of ¥77 million. The contract conclusion is expected on July 27, 2016.

The transaction is expected to close on August 1, 2016.