Shinwa Co., Ltd. (TSE:3447) agreed to acquire CTR Co., Ltd. for ¥3 billion on March 14, 2024. As of November 30, 2023, CTR Co., Ltd. generated net assets of ¥205 million, total assets of ¥1.6 billion, sales of ¥333 million, operating income of ¥79 million and net income of ¥30 million. The transaction is expected to close on April 1, 2024.