TETSUJIN Inc. (TSE:2404) agreed to acquire Naokyu Co., Ltd. from Fukukuru Foods Co., Ltd. on March 25, 2020. As per the terms, TETSUJIN Inc. will acquire 0.08 million shares in Naokyu. In a related transaction, Naokyu Co., Ltd. will acquire the ramen business of Fukukuru Foods Co., Ltd. As of March 31, 2019, Naokyu Co., Ltd. reported sales of ¥73 million, total assets of ¥35 million, operating loss of ¥3 million and net assets of ¥8 million. The transaction was resolved by the Board of Directors' meeting of TETSUJIN Inc. The transaction is expected to be completed on April 1, 2020.