Asahi Koushin Construction (Shanghai) Co., Ltd. concluded a contract to acquire 70% stake in Xinri Xingjin (Shenyang) Real Estate Co., Ltd from Shinnihon Corporation (TSE:1879) for CNY 0.1 million on October 19, 2018. Xinri Xingjin (Shenyang) Real Estate Co., Ltd reported total assets of CNY 237 million and net liabilities of CNY 95 million as of March 31, 2018 and revenues of CNY 16 million, operating loss of CNY 75 million and net loss of CNY 88 million for the year ended March 31, 2018. The transaction is resolved by the Board of Shinnihon Corporation. The transaction is expected to complete in late October 2018.