Baoding Life Automotive Lighting Group Cangzhou Co., Ltd. entered into a transfer agreement to acquire 44.2% stake in Life Elex Inc. from Ichikoh Industries, Ltd. (TSE:7244) on December 25, 2020. As reported, 397,800 shares in in Life Elex Inc. will be transferred. Following the sale, Ichikoh Industries, Ltd. will hold 14.9% stake in Life Elex Inc. Due to the transfer, Life Elex will be excluded from the consolidated subsidiaries of Ichikoh Industries, Ltd. For the financial year 2019, Life Elex Inc. reported net assets of ¥1.6 billion, total assets of ¥2.1 billion, net sales of ¥1.7 billion and net loss of ¥44 million. The executives dispatched from Ichikoh Industries to Life Elex is scheduled to be cancelled on the date of execution of the share transfer. The planned share transfer date is June 30, 2021.