Sundrug Co., Ltd. (TSE:9989) signed a basic agreement to acquire Sundrug Plus Co., Ltd. from Mitsuo Yoshinari, Yoshihiro Terai and Shinichi Arai on July 25, 2014. Mitsuo Yoshinari will sell 60% stake, Yoshihiro Terai will sell 20% stake and Shinichi Arai will sell 20% stake. Under the terms of the deal, 200 shares will be acquired.

After the transaction, Sundrug Plus Co., Ltd will operate as a subsidiary of Sundrug Co., Ltd. For the financial year ended February 2014, Sundrug Plus had total assets of ¥4.28 billion, net assets of ¥38 million, sales of ¥18.11 billion, operating profit of ¥88 million and net profit of ¥58 million. The Board of Directors of Sundrug Co. passed a resolution for the transaction on July 25, 2014.

The scheduled date of signing of the share transfer agreement and transfer is September 1, 2014.