Kyudenko Corporation (TSE:1959) agreed to acquire an unknown majority stake in Chuorika Kougyo Co.,Ltd., on July 29, 2021. Kyudenko Corporation entered into a share transfer agreement to acquire an unknown majority stake in Chuorika Kougyo Co.,Ltd., on August 4, 2021. As a result of the transaction, Chuorika Kougyo Co.,Ltd., will become a subsidiary of Kyudenko Corporation.

The transaction has been approved by the Board of Directors in a meeting held on July 29, 2021. The transaction is expected to complete on September 22, 2021.