SBI SECURITIES Co., Ltd. signed a basic agreement to acquire Investment trust and bond sales business from The Shimane Bank, Ltd. (TSE:7150) on January 21, 2020. SBI SECURITIES will take over Shimane bank's investment trust and bond sales business and its related business. In addition, the Bank's customers' accounts and assets will be transferred to SBI SECURITIES and deposited on SBI SECURITIES. Going forward, Shimane will continue to sell investment trusts and bonds, entrusted by SBI SECURITIES to brokerage financial products. SBI SECURITIES Co., Ltd. signed an agreement to acquire Investment trust and bond sales business from The Shimane Bank, Ltd. (TSE:7150) for ¥23 million on February 17, 2020. The transaction is subject to approval by relevant government agency. Board of Directors of Shimane approved the transaction on January 21, 2020 and February 17, 2020. The Board of SBI SECURITIES approved the transaction on February 17, 2020. As on May 22, 2020, China Finance Bureau approved the transaction. The final business transfer agreement will be concluded by February 2020 with closing expected during the first half of 2020. The transaction is expected to close on May 28, 2020. For the fiscal year ending March 31, 2020, The Shimane Bank, Ltd. expect to record impairment losses for software used in the transfer business. The gain on the sale of this property is expected to be recorded as extraordinary income in the first quarter of the fiscal year ending March 31, 2021. The effects of these events on the results for the fiscal year ending March 2020 and the fiscal year ending March 2021 are all minor. There is no change. SBI SECURITIES Co., Ltd. cancelled the acquisition of Investment trust and bond sales business from The Shimane Bank, Ltd. (TSE:7150) on January 21, 2021.