Sanki Service Corporation (TSE:6044) agreed to acquire Hyogo Kiko Co., Ltd for approximately ¥600 million from the group of shareholders on October 13, 2022. the parties have signed a share exchange agreement on October 21, 2022. As per the terms, Sanki Service Corporation (TSE:6044) will issue 25.6 shares for each of Hyogo share.

Upon completion, Hyogo will become wholly owned subsidiary of Sanki Service Corporation. For the period ended March 2022, Hyogo reported net assets of ¥0.58 million, total assets of ¥2.3 million, Sales of ¥1.8 million and operating income of ¥0.051 million. Transaction is expected to close on December 1, 2022.