Waqoo Inc. (TSE:4937) agreed to acquire Cell Pro Japan Co., Ltd. from SBC Medical Group Co., Ltd., Pershing Co., Ltd. and Bunpei Samata for ¥10.4 billion on November 20, 2023. The merger ratio is fixed and it is 1:54.4. Waqoo will issue 598,400 shares. The transaction is subject to Waqoo and Cell Pro shareholders approval.

For period ended March 2023, Cell Pro reported net assets of ¥73.3 million, total assets of ¥135.3 million, sales of ¥59.9 million, operating loss of ¥20.4 million and net income of ¥5.05 million. The transaction is subject to January 1, 2024.