UNITED, Inc. (TSE:2497) entered into an agreement to acquire unknown majority stake in TriFort, Inc. from a group of sellers for ¥3.6 billion on September 27, 2018. Under the terms of the transaction, UNITED, Inc. will acquire 1.45 million common shares, 0.6 million class A preferred shares, and 0.25 million class B preferred shares. Upon completion, UNITED, Inc. will have 75% voting rights in TriFort, Inc. Upon completion, TriFort, Inc. will operate as subsidiary of UNITED, Inc. For the year ended March 2018, TriFort, Inc. reported total assets of ¥1.1 billion, net assets of ¥490.7 million, sales of ¥1.6 billion, operating income of ¥80.7 million, and net income of ¥61.4 million.

The transaction was resolved by the Board of UNITED, Inc. on September 27, 2018. The transaction is expected to close on October 11, 2018.