Sansei Shokuhin Co., Ltd. entered into a basic agreement to acquire Kaiten-zushi business from Kozosushi Co., LTD. (JASDAQ:9973) for ¥240 million in cash on August 6, 2013. Kaiten-zushi business reported net sales of ¥1.61 billion, gross income of ¥898 million and operating income of -¥26 million for period ending December 2012. The transaction was resolved by Board of Directors of Kozosushi Co., LTD. on August 6, 2013.

The transaction does not involve approval by the shareholders of Kozosushi. The business transfer contract conclusion is expected to take place on September 27, 2013 and transaction is expected to complete on September 30, 2013.