Sacos Corporation (JASDAQ:9641) agreed to acquire Shinwadenki Co., Ltd. from Noboru Nonaka and 1 other shareholder on January 25, 2021. As per terms, Sacos Corporation will acquire 20,300 shares of which 86.7% stake from Noboru Nonaka and 13.3% from the other shareholder. For the year ended March 31, 2020, Shinwadenki Co., Ltd. reported total assets of CNY 472 million, net assets of CNY 136 million, total sales of CNY 516 million, operating income of CNY 0 million and net income of CNY 7 million. The board of directors of Sacos Corporation has resolved the transaction. The transaction is expected to close on February 9, 2021.