Genki Sushi Co., Ltd. (TSE:9828) concluded a contract to acquire Genki Sushi Singapore Pte.Ltd. for SGD 3.9 million on November 21, 2016. Under the terms of the contract, Genki Sushi Co., Ltd. will acquire 0.8 million shares. Post completion, Genki Sushi Singapore Pte.Ltd. will operate as a subsidiary of Genki Sushi Co., Ltd. For the year ended December 31, 2015, Genki Sushi Singapore Pte.Ltd. reported net assets of SGD 0.3 million, total assets of SGD 2.1 million, sales of SGD 8.3 million and net loss of SGD 0.2 million. Board of Directors resolved the transaction on November 21, 2016. The deal is expected to close in December 2016. The transaction incurred an advisory cost of SGD 0.103 million (¥8 million). Currency conversions were done through www.oanda.com as of November 21, 2016.