JTEC Corporation (TSE:3446) signed a contract to acquire ESCO, Ltd on May 14, 2021. Under the transaction, JTEC Corporation will acquire the 97,000 shares in ESCO, Ltd. As a result of the transaction, ESCO, Ltd would operate as a subsidiary of JTEC. The transaction was resolved at the meeting of the board of directors of JTEC Corporation on May 14, 2021.

The share transfer is expected to complete on May 31, 2021.