KOSSEN Co., Ltd. (KOSDAQ:A009730) agreed to acquire Upex-med Co., Ltd. from 73 individuals for KRW 13.3 billion on January 22, 2019. KOSSEN Co., Ltd. will acquire 2.96 million shares of Upex-med Co., Ltd. in cash. KOSSEN Co., Ltd. will pay KRW 8 billion as deposit on January 23, 2019 and will pay the balance amounting to KRW 5.3 billion on January 29, 2019. As of January 29, 2019, an amendment of the contract took place and the balance amount will be paid on February 15, 2019. KOSSEN Co., Ltd. will use own funds to acquire the stake. Upex-med Co., Ltd. reported total assets of KRW 2.44 billion and total capital of KRW 1.5 billion as at December 31, 2018. Upex-med Co., Ltd. reported sales of KRW 3.01 billion and net loss of KRW 358 million in 2018. The Board of Directors of KOSSEN Co., Ltd. passed a resolution for the transaction on January 22, 2019. The transaction is expected to be completed on January 29, 2019. As of January 29, 2019, deal is expected to close by February 15, 2019. Daehyun Accounting Corporation acted as the external rating institution. KOSSEN Co., Ltd. (KOSDAQ:A009730) completed the acquisition of Upex-med Co., Ltd. from 73 individuals on February 15, 2019.