Ichibanya Co., Ltd. (TSE:7630) enter into a letter of intent to acquire Plant factory involving vegetable production and sales business from AGP Corporation (JASDAQ:9377) on July 30, 2020. The contract date is schedule on July 31, 2020. The transaction is expected to close on September 30, 2020.

The effect of this acquisition on the consolidated business results for the fiscal year ending February 2021 is immaterial.