RENOVA, Inc. (TSE:9519) executed a share transfer agreement to acquire an additional 10% stake in Kanda Biomass Energy K.K. from Veolia Japan K.K. on July 21, 2021. Following the acquisition, RENOVA’s equity interest in Kanda Biomass will become 53.07%, making it a consolidated subsidiary of RENOVA. For the fiscal year ended March 2021, Kanda Biomass has net assets of ¥3.58 billion, total assets of ¥38.98 billion and operating loss of ¥25 million. RENOVA exercised its additional acquisition rights and concluded the share transfer agreement on July 21, 2021. The conclusion of the share transfer is expected to take place on July 28, 2021.