Chikaranomoto Global Holdings Pte. Ltd signed a basic agreement to acquire Kanpai Ramen Co., Ltd from Kanpai Co., Ltd (GTSM:1269) for approximately ¥210 million on August 9, 2018. Chikaranomoto Global Holdings Pte. Ltd signed a share transfer contract to acquire Kanpai Ramen Co., Ltd from Kanpai Co., Ltd for approximately ¥210 million on September 14, 2018. Chikaranomoto Global Holdings Pte. Ltd will acquire 6 million shares of Kanpai Ramen Co., Ltd. In a related transaction, Chikaranomoto Global Holdings will sell some shares of Kanpai Co., Ltd. Kanpai Ramen Co., Ltd will operate as a subsidiary of Chikaranomoto Global after the deal. A contract will be signed by September 14, 2018. For the period ending December 31, 2017, Kanpai Ramen reported total assets of ¥352 million, net assets of ¥137 million, revenue of ¥1.14 billion, operating loss of ¥9 million and net loss of ¥51 million. Board of Directors of Chikaranomoto Holdings Co.,Ltd. resolved in favor of the deal on August 9, 2018. Deal is expected to close by September 28, 2018. Chikaranomoto Global Holdings Pte. Ltd will incur advisory cost of ¥6 million.