SourceNext Corporation (TSE:4344) signed a basic agreement to acquire unknown stake in UMEOX Innovations Co., Ltd. on July 26, 2018. SourceNext Corporation will acquire 35% stake in total through acquisition and capital increase. For the year ended December 2017, UMEOX Innovations Co., Ltd. reported sales of CNY 69.03 million and operating profit of CNY 0.82 million. The agreement is expected to be signed in October 2018 and the deal is expected to close in October 2018. SourceNext Corporation (TSE:4344) cancelled the acquisition of unknown stake in UMEOX Innovations Co., Ltd. on July 26, 2019.