NANYO Corporation (FKSE:7417) signed a contract to acquire Todaka Corporation, K.K. from Takeo Todaka, Tsuneo Todaka, Senbuchi Todaka for approximately ¥350 million on February 7, 2017. Under the terms of the transaction, NANYO Corporation will acquire 0.04 million shares and Takeo Todaka will sell 36.3% stake, Tsuneo Todaka will sell 34.3% stake, Senbuchi Todaka will sell 29.4% stake in Todaka Corporation, K.K. Post-closing, NANYO Corporation will hold 100% stake in Todaka Corporation, K.K. For the financial year ending June, 2016, Todaka Corporation, K.K. had net assets of ¥371 million, total assets of ¥621 million, sales of ¥687 million, operating income of ¥34 million and net income of ¥48 million. The transaction was decided by the Board of Directors of NANYO Corporation on February 7, 2017. The transaction is expected to complete on March 1, 2017. The advisory expenses in the transaction were ¥55 million.