Maxvalu Nishinihon Co., Ltd. (TSE:8287) entered into share exchange agreement to acquire Sanyo Marunaka Co., Ltd. from KOHYO Co.,Ltd for ¥8.8 billion on December 14, 2018. Under the terms, Maxvalu Nishinihon will issue 4.71 million shares with an exchange ratio of 260 to acquire 0.02 million shares of Sanyo Marunaka. In related transaction, Maxvalu Nishinihon entered into share exchange agreement to acquire MARUNAKA Co., Ltd from KOHYO Co.,Ltd for ¥40.4 billion and Maxvalu Nishinihon will succeed the rights and obligations, etc. held concerning the business related to the Seiryoudai store, Nishinomiya Hamacho store, Nishinomiya Ueda store, Osadaminami store, Sumakaihinkoenekimae store, Higashinaniwa store, Kinrakuji store and Shioyakita store to KOHYO Co., Ltd., through the company split held on December 14, 2018. Post-acquisition, Sanyo Marunaka will become a wholly owned subsidiary of Maxvalu Nishinihon. Sanyo Marunaka reported net assets of ¥11.1 billion, total assets of ¥73.8 billion, sales of ¥122.9 billion, operating income of ¥2.8 billion and net income of ¥1.1 billion for the fiscal year ended February 2018. The transaction is subject to approval from the shareholders of Maxvalu Nishinihon and Sanyo Marunaka at their extraordinary general meeting will be held on January 31, 2019. The transaction has been resolved by the Board of Directors of Maxvalu Nishinihon at the meeting held on December 14, 2018. The transaction is expected to be completed by March 1, 2019. Oh-Ebashi LPC & Partners acted as legal advisor and YAMADA Consulting Group Co., Ltd. acted as valuer for Maxvalu Nishinihon. AGS Consulting Co,. Ltd. acted as consultant for Sanyo Marunaka. Maxvalu Nishinihon Co., Ltd. (TSE:8287) completed the acquisition of Sanyo Marunaka Co., Ltd. from KOHYO Co.,Ltd on March 1, 2019.