Kitanihon Spinning Co., Ltd. agreed to acquire Kanai Sangyo Co., Ltd. from Ikumo Kanai, Akinori Kanai, Yoshinori Kanai, Keiko Kanai and Mayumi Tamamura for approximately ¥130 million.

Kitanihon Spinning Co Ltd is a Japan-based company principally engaged in the manufacture and sale of synthetic fiber yarn, as well as the sale of column resuscitation materials. The Company operates its business through two business segments. The Textile segment mainly manufactures and sells synthetic fiber spun yarn. The Environmental segment mainly sells water purification systems and energy-saving equipment. The Company is also involved in the development of polyester spinning and composite yarn.