Suzumo Machinery Company Limited (JASDAQ:6405) entered into a contract to acquire Japan System Project Co.,Ltd., from Toru Katsuyama on September 10, 2021. Pursuant to the terms of the contract, Suzumo Machinery Company Limited shall acquire around 258 shares and will make Japan System Project Co.,Ltd., it's subsidiary. For FY2 2021, Japan System Project Co.,Ltd., had sales of ¥605 million, total assets of ¥435 million, operating income of ¥28 million, net income of ¥31 income and net assets of ¥85 million.

The transaction was resolved upon by the Board of Directors of Suzumo Machinery Company Limited in a meeting held on September 10, 2021. The transaction is expected to complete on October 1, 2021. The Board of Directors of Suzumo Machinery resolved at its meeting held on September 10, 2021 to acquire all shares in Japan System Project Co., Ltd. (hereinafter “JSP”) and make the entity a consolidated subsidiary of the Company.

On the same day, we concluded a share transfer agreement with JSP. The share transfer process based on this agreement has been completed on October 1, 2021.