Oriental Chain Mfg. Co., Ltd. (TSE:6380) agreed to acquire Terada Seiko Co., Ltd. from Ritsuko Terada, Nahomi Zaida and Yurie Terada on May 9, 2024. As part of the transaction, Oriental Chain will acquire 0.017 million shares of Terada Seiko.

Following this stock acquisition, Terada Seiko Co., Ltd. is scheduled to become a consolidated subsidiary of Oriental Chain Mfg. Co., Ltd. Terada Seiko reported net assets of ¥22.4 million, total assets of ¥102.4 million, sales of ¥195.5 million, operating expense of ¥15.4 million and net loss of ¥1.6 million for year ending May 2023. The parties will enter into a contract on July 2, 2024.

The transaction is expected to close on July 2, 2024.