Fujiya Co., Ltd. (TSE:2211) agreed to acquire Sweetgarden Co., Ltd. for ¥950 million on February 13, 2014. Fujiya will acquire all 21,926 shares of Sweetgarden as a part of the transaction. For the year ended March 31, 2013, Sweetgarden reported net assets of ¥1.4 billion, total assets of ¥5 billion, sales of ¥12.1 billion, operating profit of ¥206 million and net income of ¥105 million.

The transaction is expected to close on April 1, 2014. An amount of ¥110 million will be paid as advisory expenses.