CRESTEC Inc. (TSE:7812) signed a share transfer agreement to acquire 90% stake in Navi Co., Ltd. from Takeshi Nagai and Ayako Okabe for ¥85.1 million on November 12, 2019. CRESTEC will acquire 153 shares from Takeshi Nagai and 27 shares from Ayako Okabe. In a related transaction, CRESTEC signed a share exchange agreement to acquire 10% stake in Navi on November 12, 2019. CRESTEC will own 100% stake in Navi after the completion of both transactions. For the year ended March 31, 2019, Navi reported net sales of ¥276 million, net income of ¥11 million and operating profit of ¥12 million. As of March 31, 2019, Navi reported net assets of ¥99 million and total assets of ¥151 million. On November 12, 2019, shareholders of Navi approved the transaction and Board of Directors of CRESTEC concluded the stock transfer agreement. The transaction is expected to complete on January 1, 2020. TGN-Tokyo acted as the accountant to CRESTEC. CRESTEC Inc. (TSE:7812) completed the acquisition of 90% stake in Navi Co., Ltd. from Takeshi Nagai and Ayako Okabe in January 2020.