Crops Corporation (TSE:9428) agreed a contract to acquire Daimei-Shoji Corporation from Yoshitsugu Oguchi and Yugo Oguchi for ¥350 million on January 15, 2015. Crops Corporation will acquire 0.02 million shares in the transaction. Yoshitsugu Oguchi will sell 90% stake and Yugo Oguchi will sell 10% stake. Daimei-Shoji had net assets of ¥381 million, total assets of ¥1.78 billion, sales of ¥3.9 billion, operating profit of ¥58 million and net income ¥35 million for the year ending September 2014. A resolution was passed by the Board of Directors of Crops Corporation. The deal will close on January 16, 2015.

Crops Corporation (TSE:9428) cancelled the acquisition of Daimei-Shoji Corporation from Yoshitsugu Oguchi and Yugo Oguchi on January 15, 2016.