Tsuzuki Corporation and Nishigaki Lumber,Inc. agreed to acquire an additional 20.6% stake in Seven Industries Co., Ltd. (TSE:7896) from Sumitomo Corporation (TSE:8053) on December 7, 2020. Under the terms, Sumitomo Corporation will sell 0.91 million shares of Seven Industries. Post completion, Tsuzuki Corporation will hold 27% stake and Nishigaki Lumber,Inc. will hold 23.6% stake in Seven Industries respectively.

The transaction is expected to close on December 11, 2020.