Kanemitsu Corporation (TSE:7208) concluded the share transfer agreement to acquire Matsumoto Seiko Co., Ltd from Moriteru Matsumoto and Mitsuhiro Matsumoto on May 11, 2018. Under the terms, Kanemitsu Corporation will acquire 200 shares of Matsumoto Seiko Co., Ltd. Moriteru Matsumoto and Mitsuhiro Matsumoto sell 109 shares (54.5%) and 91 shares (45.5%) respectively in Matsumoto Seiko Co., Ltd. Post acquisition, Matsumoto Seiko Co., Ltd will become wholly owned subsidiary of Kanemitsu Corporation. The transaction has been resolved by the Board of Directors of Kanemitsu Corporation at the meeting held on May 11, 2018. The transaction is expected to close on May 31, 2018. Kanemitsu Corporation (TSE:7208) completed the acquisition of Matsumoto Seiko Co., Ltd from Moriteru Matsumoto and Mitsuhiro Matsumoto in May, 2018.