Management Solutions co., Ltd. (TSE:7033) agreed to acquire an unknown stake in Aqua Co., Ltd. for ¥20 million on February 17, 2020. Under the terms, Management Solutions will acquire common shares issued by Aqua through a third-party allotment and common shares owned by existing shareholders up to a maximum of ¥20 million. For the year ended March 31, 2019, Aqua had net assets worth ¥39.5 million, total assets worth ¥118 million, sales of ¥221 million, operating loss of ¥29.1 million and net income of ¥20.4 million. Board of directors passed their resolution on transaction on February 17, 2020. The transaction is expected to close on February 28, 2020. Management Solutions co., Ltd. (TSE:7033) cancelled the acquisition of an unknown stake in Aqua Co., Ltd. on February 17, 2021.