Anrakutei Co., Ltd. (TSE:7562) agreed to acquire ARCMEAL Co., Ltd. from Yoshinoya Holdings Co., Ltd. (TSE:9861) on December 26, 2019. ARCMEAL Co., Ltd. reported total assets of ¥10.01 billion, net assets of ¥1.7 billion, revenue of ¥22.4 billion, operating profit of ¥212 million and net income of ¥140 million for the year 2018. The board of Anrakutei Co., Ltd. has resolved the transaction.

The transaction is expected to complete on February 29, 2020. Frontier Management Inc. (TSE:7038) acted as financial advisor to Yoshinoya Holdings Co., Ltd. (TSE:9861).