Nissin Sugar Co., Ltd. (TSE:2117) entered into an agreement to acquire NAC System Co., Ltd. from Nakamuraya Co., Ltd. (TSE:2204) on December 20, 2018. Under the terms of the transaction, Nissin Sugar Co., Ltd. will acquire 100 shares of NAC System Co., Ltd. Upon completion, NAC System will operate as wholly owned subsidiary of Nissin Sugar Co., Ltd. For the year ended March 2018, NAC System Co., Ltd. reported total assets of ¥529 million, net assets of ¥253 million, sales of ¥1.04 billion, operating income of ¥70 million, and net income of ¥46 million. The transaction was resolved by the Board of Directors of Nissin Sugar Co., Ltd. on December 20, 2018.

The transaction is expected to close on February 1, 2019.