Kanematsu Communications Limited signed an agreement to acquire 13.5% in Nippon Telephone Inc. (JASDAQ:9425) from Gendai Shoji K.K. for approximately ¥190 million on October 23, 2019. As per terms, Kanematsu Communications Limited will acquire 0.46 million for ¥420 per share. Post completion, Gendai Shoji K.K. which currently holds 0.62 million shares will hold 0.16 million shares. The deal is expected to close on October 24, 2019.