Qinhuangdao Changyang Concrete Co., Ltd. proposed to acquire additional 72% in Qinhuangdao Asano Cement Co., Ltd. from Taiheiyo Cement Corporation (TSE:5233) in May 2020. ON the date of announcement, Qinhuangdao Changyang Concrete Co., Ltd. holds 4% stake in Qinhuangdao Asano Cement Co., Ltd. Post completion, Qinhuangdao Asano Cement Co., Ltd. will be excluded from the consolidated subsidiaries of Taiheiyo Cement Corporation. For the year ended December 31, 2019, Qinhuangdao Asano Cement Co., Ltd. reported net assets of $100.1 million, total assets of $126.3 million, sales of $54 million, operating income of $2.7 million and net income of $2.5 million. The Board of Directors of resolved the deal on August 25, 2020. The deal is expected to close in September 2020.