Keio Corporation (TSE:9008) signed a share transfer agreement to acquire 21.31% stake in Sunwood Corporation (JASDAQ:8903) from Takara Leben Co., Ltd. (TSE:8897) on November 22, 2021. As per terms, Keio Corporation will acquire 1 million shares of Sunwood Corporation. Post completion, Keio Electric Railway, which will be the new largest shareholder of Sunwood Corporation.

The transaction was resolved by Management Meeting of Keio Electric Railway and Board of Directors of Sunwood. The transaction is expected to close on November 29, 2021.