Atsugi Co., Ltd. (TSE:3529) entered into a stock transfer agreement to acquire Renowninx Co., Ltd. from Renown Incorporated on August 20, 2020. As per terms, Atsugi Co., Ltd. will acquire all 19,000 shares of Renowninx Co., Ltd. from Renown Incorporated and will hold 100% stake post-completion. For the year ended December 31, 2019, Renowninx Co., Ltd. reported total assts of ¥3.27 billion, net assets of ¥325 million, total sales of ¥7.28 billion, operation income of ¥362 million and net income of ¥304 million.

The transaction is expected to complete on October 1, 2020.