Yuji Sugimoto entered into a share purchase agreement to acquire 22.33% sake in NichiiGakkan Co., Ltd. (TSE:9792) from Kuniko Terada for approximately ¥ 24.5 billion in a management buyout transaction on May 8, 2020. As part of the acquisition, Yuji Sugimoto will acquire 16.3 million shares at price ¥ 1500 per shares. In a related transaction, Yuji Sugimoto made an offer to acquire 19.28% stake in NichiiGakkan Co., Ltd.