Kawamoto Corporation (TSE:3604) agreed to acquire 90% stake in Zhejiang Kawamoto Health Care Products Co., Ltd from Shanghai Kawamoto Health Care Products Co., Ltd for CNY 60.3 million on November 10, 2017. Contract will be signed on December 1, 2017. Post-acquisition, Kawamoto Corporation will hold 90% stake in Zhejiang Kawamoto Health Care Products. For the fiscal year ended December 31, 2016, Zhejiang Kawamoto Health Care Products Co., Ltd reported sales of CNY 28.3 million, total assets of CNY 46.1 million, net assets of CNY 42.3 million, operating profit of CNY 0.13 million and net income of CNY 0.27 million. The transaction is resolved by the Board of Directors of Kawamoto Corporation. The transaction is expected to close on December 1, 2017. Kawamoto Corporation (TSE:3604) cancelled the acquisition to acquire 90% stake in Zhejiang Kawamoto Health Care Products Co., Ltd from Shanghai Kawamoto Health Care Products Co., Ltd on November 10, 2018.