Asahi Eito Holdings Co.,Ltd. (TSE:5341) agreed to acquire 51% stake in Flagships Co., Ltd. from Hiroaki Okabe for ¥77.4 million on July 7, 2023. As reported, 51 shares (51%) will be transferred as the total number of shares of Flagships Co. to be transferred by to Asahi Eito Holding at the time of the share delivery.

Asahi Eito Holdings Co will allot and deliver 1,875 shares of common stock of Asahi Eito Holdings Co for each share of common stock of Flagships. Asahi Eito Holdings Co.,Ltd will make Flagships Co., Ltd. as a subsidiary through simplified share delivery. The delivery of shares is subject to the effectiveness of the securities registration statement under the Financial Instruments and Exchange Act.

The Board of Directors meeting of Asahi Eito Holdings to approve the share delivery plan will be held on July 7, 2023. Application deadline for the transfer of shares of Flagships Co., Ltd. is July 21, 2023. Effective date of share delivery is August 9, 2023.