Gecoss Corporation (TSE:9991) agreed to acquire Otowa Co., Ltd. from Kazuhiko Kojima on February 25, 2022. Under the terms, Gecoss Corporation will acquire 3,500 shares to acquire Otowa 100% stake. On February 25, 2022, Gecoss Corporation's board resolved to acquire all the shares of Otowa. For the year ended May 2021, Otowa had Net assets of ¥194 million, Total assets of ¥863 million, Sales of ¥2,424 million, Operating profit of ¥271 million and Net income of ¥18 million. Transaction is expected to close on April 1, 2022.

Gecoss Corporation (TSE:9991) completed the acquisition of Otowa Co., Ltd. on April 1, 2022. Otowa has become a subsidiary.