Nippon Pigment Company Limited (TSE:4119) agreed to acquire 97.28% stake in Sumika Color CO., Ltd. from Sumitomo Chemical Company, Limited (TSE:4005) for ¥1 billion on March 1, 2024. Sumika Color reported net worth of ¥1.67 billion, total assets of ¥11.524 billion, sales of ¥13.133 billion, operating income of -¥669 million and net income of -¥749 million for fiscal year ending March 2023. The transaction is expected to close on April 30, 2024.