SHIFT, Inc. (TSE:3697) agreed to acquire SNC Co.Ltd. for approximately ¥910 million on March 24, 2020. SHIFT, Inc. signed contract to acquire SNC Co.Ltd. on April 9, 2020. As per the transaction, SHIFT, Inc. will acquire 200 shares representing 100% stake of SNC Co.Ltd. Post completion, SNC Co.Ltd. will become wholly owned subsidiary of SHIFT, Inc. For the period ended June 30, 2019, SNC Co.Ltd. has reported total assets of ¥450.84 million, net assets of ¥289.92 million, sales of ¥1.12 billion, operating profit of ¥69.08 million and net profit of ¥49.73 million. The Board of Directors has passed the resolution for transaction on March 24, 2020. Completion is scheduled to take place on April 30, 2020. SHIFT, Inc. (TSE:3697) acquired SNC Co.Ltd. on April 2020.