Tomato Bank, Ltd. (TSE:8542) agreed to acquire remaining 60.5% stake in Tomato Lease Co., Ltd. from a group of sellers for approximately ¥590 million on October 23, 2018. Pre deal, Tomato Bank, Ltd. held 39.5% stake and post completion, it will hold 100% stake in Tomato Lease Co., Ltd. Upon completion, Tomato Lease Co., Ltd. will operate as a wholly owned subsidiary of Tomato Bank, Ltd. For the year ending March 2018, Tomato Lease Co., Ltd. reported total assets of ¥14.2 billion, net assets of ¥974 million, sales of ¥4.4 billion, operating profit of ¥48 million and net income of ¥40 million. The deal was resolved by the Board of Directors of Tomato Bank, Ltd. on October 23, 2018.

The tentative conclusion of the share transfer contract is January 7, 2019 and the tentative share transfer date for the deal is January 11, 2019.