Berg Earth Co.,Ltd. (JASDAQ:1383) signed an share exchange agreement to acquire additional 93.75% stake in Iyo Nosan Y.K. from Kaoru Matsuoka, Katsutoshi Abe and Michihiro Takubo for approximately ¥450 million on October 18, 2021. As per terms of transaction, Berg Earth Co.,Ltd. will issue its one share for every 59 shares of Iyo Nosan Y.K and will issue total 0.177 million shares. Kaoru Matsuoka sold 49.22% stake, Katsutoshi Abe sold 5.46% stake and Michihiro Takubo sold 4.68% stake. As on May 31, 2021, Iyo Nosan Y.K. reported net worth of ¥538 million, total assets of ¥1.259 billion, sales of ¥2.433 billion, operating profit of ¥3 million. Transaction is expected to complete on November 30, 2021.