Mitsui Sugar Co., Ltd. entered into an agreement to acquire Dai-Nippon Meiji Sugar Co., Ltd. from Mitsubishi Corporation (TSE:8058) and Nippon Beet Sugar Manufacturing Co., Ltd. (TSE:2108) for ¥12.9 billion on October 15, 2020. Allocation ratio of shares related to the Share Exchange is 63.35 shares of Mitsui Sugar Co., Ltd's common stock for each common stock of Dai-Nippon Meiji. Mitsui Sugar Co., Ltd. will allocate and deliver a total of 6,738,222 shares of common stock through the Share Exchange to Mitsubishi Corporation and Nippon Beet Sugar.

Mitsui Sugar Co., Ltd. shall change its trade name to DM Mitsui Sugar Holdings Co., Ltd. on the condition that the Share Exchange and the Absorption-type Split take effect. Fiscal year ending March 2020, Dai-Nippon Meiji Sugar Co., Ltd. had Net worth of ¥24.6 million, Total assets of ¥28.8 million, sales of ¥33.9 million, Operating income of ¥2.9 million, bet income of ¥2.1 million. The deal is subject to approval by shareholders of Mitsui Sugar Co., Ltd, Dai-Nippon Meiji Sugar Co., Ltd. and approval by Fair Trade Commission.

Board of Mitsui Sugar Co., Ltd. approves the deal. The deal is expected to take effect on April 1, 2021. Nishimura & Asahi Law Office as a legal advisor for Mitsui Sugar Co., Ltd.