Nittoku Co.,Ltd. (TSE:6145) agreed to acquire Astecnos.Co.,Ltd. from corporate shareholder for ¥1 billion on March 1, 2024. The consideration consists of ¥1 billion in cash. As part of the consideration, ¥1 billion was paid towards common equity.

Astecnos reported net worth of ¥782 million, total assets of ¥5.3 billion, sales of ¥2.8 billion, operating loss of ¥27 million and net income of ¥49 million for the period ending March 2023. The stock transfer agreement is expected to be signed on March 4, 2024 and the transaction is expected to complete on April 1, 2024.