Maxvalu Hokkaido Co Ltd (JASDAQ:7465) entered into basic agreement to acquire the super market business in hokkaido, Japan from Daiei, Inc. for approximately ¥170 million on April 9, 2015. On July 8, 2015, a contract was concluded. Maxvalu Hokkaido will allocate 0.6 million shares for the transfer. The target stores are Daiei Sapporo Maruyama branch, Gourmet City Kashiwagi branch, Gourmet City Fukabori branch, Gourmet City Benten branch, Gourmet City Mandai branch, Gourmet City Tomikawa branch, and Gourmet City Yakumo branch.

The super market business reported sales of ¥6.53 billion, operating profit of ¥69 million, total assets of ¥932 million and total liabilities of ¥449 million for the year ending February, 2015. Board of Directors of MaxValu Hokkaido Co., Ltd. made a resolution in favor of the transaction on April 9, 2015. The transaction is expected to close on September 1, 2015. Minamiaoyama FAS Corporation acted as the third party appraiser and Hashimoto & Ogawa Joint Law Firm acted as the legal advisor to MaxValu Hokkaido Co., Ltd.

Maxvalu Hokkaido Co Ltd (JASDAQ:7465) cancelled the acquisition of the super market business in hokkaido, Japan from Daiei, Inc. on April 9, 2016.