Tea Life Co., Ltd. (JASDAQ:3172) agreed to acquire Daikai Co., Ltd. from Gendo Kane and others for approximately ¥130 million on August 1, 2014. Tea Life Co., Ltd. is acquiring 200 shares of DAIKAI. Gendo Kane is selling its 64.5% stake in Daikai Co., Ltd. For the period ending June 2013, Daikai Co., Ltd. reported total assets of ¥419 million, net assets of ¥166 million, sales of ¥541 million, operating income of ¥38 million and net profit of ¥30 million.

The transaction is expected to be closed by August 1, 2014.