Tranzas, Inc. (TSE:6696) signed a basic agreement to acquire remaining 50% stake in P3, Inc. from YS Holdings Co., LTD. and an unknown seller for approximately ¥250 million on February 18, 2020. The date of conclusion of merger agreement is March 24, 2020. For each ordinary share of P3, Inc., Tranzas will allot 1,870 common shares of itself. Tranzas will issue 0.47 million shares in the deal. Pre deal, Tranzasheld 50% stake and post completion, it will hold 100% stake in P3. The deal does not require approval at a general meeting of shareholders of Tranzas. The shareholders of P3, Inc. are expected to resolve on the deal by April 17, 2020. P3, Inc. plans to omit the resolution of the general meeting of shareholders by a written resolution pursuant to Article 319 of the Companies Act. The proposal for the merger at Tranzas's Board of Directors has been approved and unanimously approved by the six directors except for Hidehiko Fujiyoshi. The resolution date for the Board of Directors of Tranzas is February 18, 2020. The date of conclusion of the basic agreement is February 20, 2020. The resolution date of merger agreement by the Board of Directors of Tranzas is March 24, 2020. The planned effective merger date is May 1, 2020. Anderson Mori & Tomotsune LPC acted as legal advisor to Tranzas.