Yihe Precision Hardware (Shenzhen) Co. Ltd. entered into the Agreement to acquire equity interest in Futaba Metal Products (shenzhen) Co., Ltd. from Futaba Industrial Co., Ltd. (TSE:7241) for CNY 58 million on April 16, 2021. The consideration shall be paid in the following manner: (i) the sum of CNY 39.26 million, representing 67.86% of the initial consideration shall be paid within 5 business days following the Yihe Precision Hardware (Shenzhen) Co. Ltd. has obtained both the relevant approvals from the State Administration for Market Regulation and relevant approvals of the State Administration of Foreign Exchange of the PRC and (ii) the remaining balance shall be paid within 15 business days following the Stock-Take End Date. For the year ended December 2020, Futaba Metal Products Co.,Ltd. reported total assets of CNY 232 million, total common equity of CNY 116 million, total revenues of CNY 522 million, operating income of CNY 13 million and net income of CNY 4 million. The transaction was resolved by the Board of Futaba Industrial Co., Ltd. The transaction is expected to close in late August 2021.