Toyo Drilube Co., Ltd. (JASDAQ:4976) signed a basic agreement to acquire Kyushu office from MANSHO CO., LTD. recently. Toyo Drilube Co., Ltd. entered into a contract to acquire Kyushu office from MANSHO CO., LTD on June 24, 2020. At the board meeting held on June 1, 2020, Toyo Drilube resolved to take over the Kyushu office of MANSHO CO., LTD. Toyo Drilube has also obtained the permission of the Tokyo District Court (which started the bankruptcy proceedings) for the conclusion of the basic agreement. The business transfer agreement is planned to be signed in June 2020. The planned business transfer date is July 1, 2020. The impact on the consolidated financial results for the fiscal year ending June 2020 will be minor for Toyo Drilube, while from the year ending June 2021 onwards, the deal is expected to contribute to Toyo Drilube's consolidated business results. Toyo Drilube Co., Ltd. (JASDAQ:4976) completed the acquisition of Kyushu office from MANSHO CO., LTD on July 1, 2020. As part of the acquisition, functions of Kyushu office transferred to Oita Drilube Co., Ltd.