Pado Corporation (JASDAQ:4833) agreed to acquire remaining 14% stake in Sendai Pado Corp. from Wellco Holdings Corporation (TSE:7831) and Kosaido Co., Ltd. (TSE:7868) for ¥16.8 million on July 13, 2020. As per terms, Pado Corporation will acquire 112 shares at ¥150,400 per share from Wellco Holdings Corporation and Kosaido Co., Ltd. each holding 7% stake in Sendai Pado Corp.

Post-completion, Sendai Pado Corp. will become the wholly-owned subsidiary of the company. For the year ended March 31, 2020, Sendai Pado Corp.

reported total assets of ¥306 million, net assets of ¥164 million, total sales of ¥585 million, operating income of ¥12 million and net profit of ¥12 million. The transaction is expected to close on August 17, 2020.