Nippon Renewable Energy K.K. agreed to acquire KP Energy LLC from Totech Corporation (TSE:9960) and other shareholders for ¥3.9 billion on June 24, 2019. The contract is expected to be signed on July 22, 2019. As of March 31, 2019, KP Energy LLC reported net assets of ¥3.25 billion and total assets of ¥8.2 billion. For the fiscal year ended March 31, 2019, KP Energy LLC reported operating loss of ¥87 million and net loss of ¥91 million. The board of Totech Corporation resolved the transaction on June 24, 2019. The transaction is expected to close on July 26, 2019. As of July 25, 2019, the signing of the contract got postpone to August 30, 2019 and the expected closing of the transaction got postpone to mid December 2019. As of December 26, 2019, the expected closing of the transaction got postpone to January 10, 2020. Sangyo Sosei Advisory Inc. acted as fairness opinion provider to Vena Energy. Nippon Renewable Energy K.K. cancelled the acquisition of KP Energy LLC from Totech Corporation (TSE:9960) and other shareholders on June 26, 2020.