J Frontier Co.,Ltd. (TSE:2934) entered into basic agreement to acquire CD Co., Ltd. and Biosafe Co., Ltd. from Kyoji Shibata and 3 others on October 15, 2021. J Frontier Co.,Ltd. (TSE:2934) entered into share transfer agreement to acquire CD Co., Ltd. and Biosafe Co., Ltd. from from Kyoji Shibata and 3 others on November 12, 2021. CD Co., Ltd. will be acquired from Kyoji Shibata, Kyoji Shibata, Kentaro Shibata and Kosuke Shibata and Biosafe will be acquired from Kyoji Shibata. CD Co reported net assets as -¥33 million, total assets as approximately ¥140 million, sales as approximately -¥850 million and net profit as ¥9 million for the period end on May 2021. Biosafe reported net assets as ¥36 million, total assets as ¥53 million, sales as approximately ¥330 million and net profit as ¥2 million for the period end on May 2021. The acquisition price is subject to financial and legal due diligence. The transaction has been approved by the board of directors of J Frontier on October 15, 2021. If the Share Acquisition is carried out as planned, CD and Biosafe will become his consolidated subsidiaries from the second quarter of the fiscal year ending May 2022. The transaction is expected to close on November 30, 2021.

J Frontier Co.,Ltd. (TSE:2934) completed the acquisition of acquire CD Co., Ltd. and Biosafe Co., Ltd. from Kyoji Shibata and 3 others on April 30, 2022.