Naoko SHU agreed to acquire Redhorse Group Co.Ltd. (TPEX:2928) for TWD 1.5 billion on July 21, 2021. Under the terms, Naoko SHU will pay TWD 32 per share. Transaction is subject to approval from shareholder of Redhorse Group and approval from Taipei District Court. Board of Directors of Redhorse Group approved the transaction. Transaction is expected to close on October 22, 2021. CPA Ming-Yi Wu of Reanda M Y Wu & Co. provided fairness opinion to Redhorse Group.

Naoko SHU completed the acquisition of Redhorse Group Co.Ltd. on July 21, 2022 which is an estimated completion date.