Shinmei Industry Co.,Ltd. entered into an agreement to acquire 73.5% stake in Kuramoto Machinery Co., Ltd. from Kuramoto Co., Ltd. (JASDAQ:5216) for approximately ¥400 million on March 26, 2019. Under the terms of the transaction, Shinmei Industry Co.,Ltd. will acquire 194 shares of Kuramoto Machinery Co., Ltd. for ¥194. Shinmei Industry Co.,Ltd. will also acquire loans receivables of Kuramoto Machinery Co., Ltd. for ¥400 million. For the year ended December 31, 2017, Beyondsoft Information Technology (Shanghai) reported total assets of ¥407 million, net assets of ¥110 million, revenue of ¥211 million, operating profit of ¥6 million, and net profit of ¥5 million. The transaction was resolved by the Board of Kuramoto Co., Ltd. on March 26, 2019. The transaction is expected to close on March 28, 2019. Shinmei Industry Co.,Ltd. cancelled the acquisition of 73.5% stake in Kuramoto Machinery Co., Ltd. from Kuramoto Co., Ltd. (JASDAQ:5216) on March 26, 2020.