Yamashina Corporation (TSE:5955) agreed to acquire remaining 95% stake in Chugoku Yamashina Service Co., Ltd. from Hiroyuki Kitagawa and Naho Kitagawa for approximately ¥190 million on January 25, 2022. As a part of transaction, Yamashina Corporation will acquire 9,500 shares of Chugoku Yamashina Service Co., Ltd. As of date, Yamashina Corporation holds 5% stake, Hiroyuki Kitagawa holds 85.5% stake and Naho Kitagawa holds 9.5% stake in Chugoku Yamashina Service. For the Fiscal year ending June 2021, Chugoku Yamashina Service reported Net assets of ¥272 million, Total assets ¥407 million, Sales of ¥338 million, Operating profit of ¥18 million and Net profit of ¥16 million.

The transaction is resolved by the board of directors of Yamashina Corporation on January 25, 2022. The transaction is expected to complete on March 31, 2022.