Unicafe Inc. (TSE:2597) entered into a contract to acquire ART COFFEE Co.,Ltd. from Mitsubishi Corporation (TSE:8058) for ¥1.5 billion on November 9, 2018. Under the terms of transaction, Unicafe Inc. will acquire 0.01 million shares of ART COFFEE. The transaction will be funded by Unicafe Inc.'s third party allotment of ¥1.5 billion. Upon completion, ART COFFEE Co.,Ltd. will become a wholly owned subsidiary of Unicafe Inc. For the year ended March 31, 2018, ART COFFEE Co.,Ltd. had total assets of ¥5.5 billion, net assets of ¥332 million, sales of ¥9.3 billion, operating income of ¥120 million and net income of ¥44 million. The transaction has been resolved by the Board of Unicafe Inc. The transaction is subject to approval of the Board of Directors of Unicafe. The transaction is expected to be completed between January 7, 2019 and January 21, 2019. Deloitte Tohmatsu Financial Advisory LLC acted as evaluator in the transaction.

Unicafe Inc. (TSE:2597) completed the acquisition of ART COFFEE Co.,Ltd. from Mitsubishi Corporation (TSE:8058) on January 7, 2019.