Yamada Denki Co., Ltd. (TSE:9831) signed a basic agreement to acquire Leo House Co., Ltd. from Nac Co., Ltd. (TSE:9788) on March 24, 2020. Yamada Denki Co., Ltd. entered into a share transfer agreement to acquire Leo House Co., Ltd. from Nac Co., Ltd. for approximately ¥490 million on April 9, 2020. As per agreement, Yamada Denki Co., Ltd. will acquire 15,850 shares of Leo House Co., Ltd. Post completion, Nac Co., Ltd. will not hold any shares of Leo House Co., Ltd. The board has resolved the acquisition on March 24, 2020 and the share transfer agreement is expected to be signed by mid of April, 2020.

For the year ended March 31, 2019, net liability, total asset, revenue, operating loss and net loss of Leo House Co., Ltd. was ¥305 million, approximately ¥10.8 billion, approximately ¥34.4 billion, ¥652 million, approximately ¥755 million respectively. The transaction is expected to complete by mid of May, 2020. As per announcement on April 9, 2020, the transaction is expected to close on May 14, 2020.