Tokyo Printing Ink Mfg. Co., Ltd. (TSE:4635) agreed to acquire Arakawa Toryo Kogyo Co., Ltd. from Kazuhiro Sawada on November 25, 2020. As on December 21, 2020, share transfer agreement was concluded. Tokyo Printing Ink Mfg. Co., Ltd. has conducted due diligence by a third-party organization, and after mutual consultation and it has calculated and determined a fair and reasonable amount. Post completion, Arakawa Toryo Kogyo Co., Ltd. will operate as a wholly owned subsidiary of Tokyo Printing Ink Mfg. Co., Ltd. For the fiscal year ending February 2020, Arakawa Toryo Kogyo Co., Ltd. reported total assets of ¥1.1 billion and sales of ¥1.3 billion. The Board of Tokyo Printing Ink Mfg. Co., Ltd. passed a resolution for the deal on November 25, 2020. The deal is expected to close on January 29, 2021. The impact of the acquisition of the shares on the full-year consolidated financial results for the fiscal year ending March 2021 is expected to be minor, but Tokyo Printing Ink Mfg. Co., Ltd. will promptly disclose any matters that should be disclosed in the future.