Kyodo Printing Co., Ltd. (TSE:7914) concluded a share purchase agreement to acquire a 90% stake in the information and communication business in Tokyo area from Nissha Printing Communications, Inc. on September 4, 2018. Under the terms of the transaction, Nissha Printing Communications will execute an absorption-type split (summary form) of the business into a newly established subsidiary, and as of January 7, 2019, transfer 90% of the issued shares of such subisidiary to Kyodo Printing. Nissha Printing Communications will retain the remaining 10% of the issued shares. The transfer will include about 80% of net sales in the Tokyo area. Nissha Printing Communications will continue to operate in the remaining 20% of its market area. The business covered by the transfer includes Nissha Printing Communications employees (approximately 30) and tangible and intangible assets. The impact of the transfer on Nissha’s consolidated business results in the current fiscal year is expected to be minor. Kyodo Printing Co., Ltd. (TSE:7914) cancelled the acquisition of 90% stake in the information and communication business in Tokyo area from Nissha Printing Communications, Inc. on September 4, 2019.