Maruka Corporation (TSE:7594) entered into an integration agreement to acquire Furusato Industries, Ltd. (TSE:8087) from a group of shareholders for ¥22.6 billion on May 7, 2021. Under the transaction, Maruka Corporation will issue 1.29 share for one every share in Furusato. Under the transaction, Maruka and Furusato have prepared a share transfer plan. Under the share transfer plan, Maruka and Furusato have reached an agreement with respect to the establishment of MARUKA FURUSATO Corporation, which will be the wholly owning parent company of Maruka and Furusato. Under the transaction, Maruka and Furusato will get delisted and MARUKA FURUSATO Corporation will get listed on exchange on October 1, 2021. The execution of the Integration and the Share Transfer is subject to the approval of the general meetings of shareholders of Maruka and Furusato, respectively, and any other permits and approvals required for the Integration. Transaction has been approved by board of directors of Maruka and Furusato. Extraordinary general meeting of Maruka shareholders is scheduled on June 16, 2021 and for Furusato shareholders is scheduled on June 21, 2021.

Effective date of the transaction is October 1, 2021. Nomura Securities Co., Ltd. acted as financial advisor and Kitahama Partners acted as legal advisor to Maruka. Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. acted as financial advisor and Anderson Mori & Tomotsune LPC acted as legal advisor to Furusato. Deloitte Touche Tohmatsu LLC acted as auditor for Maruka Corporation.

Maruka Corporation (TSE:7594) completed the acquisition of Furusato Industries, Ltd. (TSE:8087) from a group of shareholders on October 1, 2021.