Tokyo Application System Co.,ltd. agreed to acquire MISUZU Co., Ltd. from RIZAP GROUP, Inc. (SPSE:2928) for approximately ¥220 million on March 19, 2020. As per the terms of the agreement, Tokyo Application will acquire 0.12 million shares of MISUZU and will also pay advisory fees of ¥16 million. The transaction is expected to be completed by March 31, 2020.