The Shibusawa Warehouse Co., Ltd. (TSE:9304) entered into a letter of intent to acquire an unknown minority stake in Data Keeping Service Co., Ltd. on January 31, 2022. Under the terms, The Shibusawa Warehouse will acquire 35,400 shares of Data Keeping Service. The Shibusawa Warehouse Co., Ltd will enter into definitive agreement in February 2022.

Post acquisition, The Shibusawa Warehouse will hold 49% stake in Data Keeping Service. At the board of directors meeting held on January 31, 2022, the The Shibusawa Warehouse resolved the transaction. Transaction is expected to close in March 2022.