Creative Forest Co., Ltd. entered into a basic agreement to acquire EC business of Asia Development Capital Co. Ltd. (TSE:9318) for ¥30 million on April 25, 2019. The execution date of business transfer agreement is planned for July 31, 2019. The consideration may change depending on the results of detailed due diligence in the future. As of July 26, 2018, the transaction received corporate resolution. The transaction is expected to be completed on July 31, 2019. Creative Forest Co., Ltd. cancelled the acquisition of EC business of Asia Development Capital Co. Ltd. (TSE:9318) on April 25, 2020.