Kawamoto Corporation (TSE:3604) signed a contract to acquire 66.6% stake in Kurosu Industry Co., Ltd. for ¥950 million on December 23, 2022. Kawamoto Corporation will acquire 20,141 shares of Kurosu Industry Co., Ltd. in the deal. Following the completion of the deal, Kurosu Industry Co., Ltd. will become subsidiary of Kawamoto Corporation.

The Board of Kawamoto Corporation have resolved the deal on December 23, 2022, and the deal is expected to complete on December 28, 2022. An amount of ¥28 million will be paid as Advisory fee and other expenses.