Sado Steam Ship Co., Ltd. (JASDAQ:9176) signed a share exchange agreement to acquire an additional 44.89% stake in Sado Steam Ship Transport Co., Ltd. from Niigata Prefecture Tourism Products Co., Ltd. and other investors on September 18, 2020. Post-closing, Sado Steam Ship Transport Co., Ltd. will be a consolidated wholly-owned subsidiary of Sado Steam Ship Co., Ltd. For the financial year 2019, Sado Steam Ship Transport Co., Ltd. had sales of ¥1.9 billion, net assets of ¥664 million and total assets of ¥2.3 billion, EBIT of ¥3 million. The transaction was resolved by Board of Directors of Sado Steam Ship Co., Ltd. on September 18, 2020. The planned contract closing date October 16, 2020.