An unknown buyer agreed to acquire Toyo Kogyo Co., Ltd. from Toyo Knife Co., Ltd. (TSE:5964) on October 29, 2021. Post acquisition, Toyo Knife will no longer hold joint venture stake of the company. Toyo Kogyo reported net assets as KRW 2.6 billion, total assets as KRW 9.8 billion and sales as KRW 3.2 billion for the period end on December 2020. The transaction is expected to close on December 1, 2021.