Phil Company, Inc. signed a share transfer contract to acquire remaining 82.3% stake in Value Planning Co., Ltd. from Koichi Sagawa, five individual shareholders and others for approximately ¥280 million.

Phil Company, Inc. (TSE:3267) signed a share transfer contract to acquire remaining 82.3% stake in Value Planning Co., Ltd. from Koichi Sagawa, five individual shareholders and others for approximately ¥280 million on January 11, 2019. 5,550 shares will be acquired as part of the deal. Koichi Sagawa will sell 62.9% stake while five individuals will sell 19.2% stake. Value Planning Co., Ltd. will become a wholly owned subsidiary of Phil Company after the deal. Value Planning reported revenues of ¥49.1 million, total assets of ¥56.12 million, operating profit of ¥3.88 million, net income of ¥3.52 million and net assets of ¥47.05 million as of June 30, 2018. Directors and auditors will be appointed in the extraordinary shareholders’ meeting of Value Planning expected to be held on January 31, 2019. Value Planning’s representative Director Koichi Sagawa will retire from the position, and be appointed Director. The new representative Director will be Phil Company's executive officer, Hirotoshi Fukushima. Takashi Takano and Mari Kaneko will be appointed as Director and auditor of Phil Co., Inc., respectively. The Board of Phil Co., Inc. resolved in favor of the deal on the same date. Deal is expected to close on January 31, 2019.