Ocean System Corporation (TSE:3096) concluded a share transfer agreement to acquire Yoshikei Ryomo Co., Ltd from Kiryu Chusho Kigyo Fukushi Cooperative Association on March 14, 2023. 20,000 shares of Yoshikei Ryomo to be acquired. As of Fiscal year ending March, 2022, Yoshikei Ryomo has net worth of ¥451 million, Total assets of ¥485 million, Sales volume of ¥457 million, Operating income of ¥1 million and net income of ¥3 million.

The transaction is expected to close on April 28, 2023. As a result of this stock acquisition, Yoshikei Ryomo will become a consolidated subsidiary of the Company from the first quarter of the fiscal year ending March 31, 2024.