Morinaga Milk Industry Co., Ltd. (TSE:2264) entered into an agreement to acquire 20% stake in Morinaga Le May Vietnam Joint Stock Company from Le Van May and Do Thanh Tuan for VND 98 billion on February 10, 2023. Morinaga Milk Industry will acquire 80,000 shares in Morinaga Le May Vietnam. The board of directors of Morinaga Milk Industry approved the transaction.

The transaction is expected to complete by May 31, 2023.