Marubeni-Itochu Steel Inc. signed an agreement to acquire 12.02% stake in Suncall Corporation (TSE:5985) from ITOCHU Corporation (TSE:8001) for ¥1.8 billion on March 5, 2021. As per terms, Marubeni-Itochu Steel Inc. shall acquire 3.8 million shares for ¥463 per share. Post completion, Marubeni-Itochu Steel Inc. will hold 12.02% share and ITOCHU Corporation will hold 14.62% stake in Suncall Corporation.

The transaction is expected to close on March 12, 2021.