Yoshidagumi Co.,Ltd. entered into a basic agreement to acquire Nanno Construction Co., Ltd. from Asia Gate Holdings Co., Ltd. (JASDAQ:1783) on February 14, 2020. The stock transfer agreement conclusion is planned for March 10, 2020. Asia Gate Holdings shall sell 6,000 shares of Nanno Construction. Nanno Construction operates as a consolidated subsidiary of Asia Gate Holdings. For the period ending September 2019, Nanno Construction reported net assets of ¥873.62 million, total assets of ¥1.5 billion, sales of ¥1.78 billion, operating income of ¥71.85 million and net income of ¥44.58 million. Three employees of Asia Gate Holdings will be directors of Nanno Construction. Transaction completion is planned for mid March 2020. As per the update on March 10, 2020, Transaction completion is planned for March 31, 2020. Yoshidagumi Co.,Ltd. completed the acquisition of Nanno Construction Co., Ltd. from Asia Gate Holdings Co., Ltd. (JASDAQ:1783) on March 27, 2020.