Shinmei Industry Co.,Ltd. entered into an agreement to acquire 73.5% stake in Kuramoto Machinery Co., Ltd. from Kuramoto Co., Ltd. (JASDAQ:5216) for approximately ¥400 million on March 26, 2019. Under the terms of the transaction, Shinmei Industry Co.,Ltd. will acquire 194 shares of Kuramoto Machinery Co., Ltd. for ¥194. Shinmei Industry Co.,Ltd. will also acquire loans receivables of Kuramoto Machinery Co., Ltd. for ¥400 million. For the year ended December 31, 2017, Beyondsoft Information Technology (Shanghai) reported total assets of ¥407 million, net assets of ¥110 million, revenue of ¥211 million, operating profit of ¥6 million, and net profit of ¥5 million. The transaction was resolved by the Board of Kuramoto Co., Ltd. on March 26, 2019. The transaction is expected to close on March 28, 2019.