GFA Co., Ltd. (TSE:8783) agreed to acquire 80% stake in Fifty One Co., Ltd from Yasuhiro Nagao for ¥110 million on September 14, 2022. The transaction is expected to close on October 11, 2022. GFA Co., Ltd. will issue 4,625 shares for every share of Fifty One.

As of October 7, 2022, transaction is expected to close on November 4, 2022. For the fiscal year ended, March 31, 2022, Fifty One ¥456.6 million, total assets of ¥1.4 billion, Sales of ¥1.2 billion, and operating loss of ¥502.7 million. Tokyo Financial Advisers Co., Ltd. acted as a financial advisor and Minato International Group LPC acted as a due diligence provider to GFA.