Shin Kurushima Dockyard CO.,LTD. signed a share transfer agreement to acquire Sanoyas Shipbuilding Corporation from Sanoyas Holdings Corporation (TSE:7022) for ¥1 million on November 9, 2020. As per terms of transaction, Shin Kurushima Dockyard CO.,LTD. will acquire 4 million shares of Sanoyas Shipbuilding Corporation. For the year ended March 31, 2020, Sanoyas Shipbuilding Corporation reported net worth of ¥8.096 billion, total assets of ¥35.192 billion, sales ¥28.863 billion, operating income of ¥2.935 billion and net income of ¥2.338 billion. Transaction is subject to shareholder approval of Sanoyas Holdings Corporation and approval under Antimonopoly Act by the Fair Trade Commission. Transaction is expected to complete on February 28, 2021.