True Harmonic Group Limited concluded a basic agreement to acquire A.C International Co.,Ltd. from Asia Gate Holdings Co., Ltd. (JASDAQ:1783) on October 9, 2020. True Harmonic Group Limited signed an agreement to acquire A.C International Co.,Ltd. from Asia Gate Holdings Co., Ltd. (JASDAQ:1783) on November 26, 2020. As reported, Asia Gate Holdings Co will transfer 600 shares in A.C International Co.,Ltd. In a related transaction, A.C International Co.,Ltd concluded a real estate transfer agreement to transfer the land and buildings for the golf business that Asia Gate Holdings has lent to A.C International Co.,Ltd to operate the golf resort business on October 9, 2020. The real estate will be transferred at the same time as the transfer is executed The Board of Directors of Asia Gate Holdings Co., Ltd. resolved the transaction on October 9, 2020. The share transfer agreement is expected to be executed and concluded in early January 2021. The transfer is expected to affect the sales composition of each business segment of Asia Gate Holdings Co., Ltd. in the future. The implementation of the acquisition will not affect the consolidated financial results of from Asia Gate Holdings for the fiscal year ending September 2020 and the fiscal year ending September 2021. As reported on December 23, 2020, the transaction is expected to close on January 29, 2021. As reported on February 2, 2021, the execution date is undecided and will be disclosed again as soon as the specific execution date is known. True Harmonic Group Limited completed the acquisition of A.C International Co.,Ltd. from Asia Gate Holdings Co., Ltd. (JASDAQ:1783) on March 17, 2021. A.C International reported net loss of ¥1 billion, total assets of ¥427.5 million, sales of ¥1.1 billion, operating loss of ¥17.7 million, ordinary income of ¥21.2 million and net loss of ¥80.1 million for the year ended September 2020.