Development Works Food Co. Ltd (SASE:9501) signed a memorandum of understanding to acquire Seafood Restaurants Company on May 19, 2021. Development Works Food will acquire 100% of Seafood Restaurants shares in exchange for the issuance of shares in the Food Development Business Company. The procedures for the proposed acquisition are subject to the approval of the extraordinary general assembly of the Food Development Business Company and the approval of the relevant regulatory authorities.