Nireco Corporation (JASDAQ:6863) signed a contract to acquire Kogakugiken Corp. from Yukikatsu Okada and Toshiko Okada for approximately ¥570 million on September 30, 2019. Nireco will acquire 0.1 million shares. Yukikatsu Okada holds 79% stake and Toshiko Okada holds 21% stake. Kogakugiken will become a wholly owned subsidiary of Nireco. As of March 31, 2019, Kogakugiken reported net assets of ¥1.2 billion and total assets of ¥1.9 billion. For the year ended March 31, 2019, Kogakugiken reported net sales of ¥883 million, operating income of ¥59 million and net income of ¥40 million. The transaction is expected to complete on October 11, 2019. GCA Corporation acted as financial advisor to Nireco Corporation. Nireco Corporation (JASDAQ:6863) completed the acquisition of Kogakugiken Corp. from Yukikatsu Okada and Toshiko Okada on October 11, 2019.