Nicca Chemical Co.,Ltd. (NSE:4463) signed a contract to acquire 89.5% stake in Ohtomo Chemical Ins., Corp from Tokyo Small and Medium Business Investment & Consultation Co., Ltd., Shingo Kaburaki and 6 other individual shareholders on May 18, 2015. Tokyo Small and Medium Business Investment & Consultation Co., Ltd. will sell 21.21% stake, Shingo Kaburaki will sell 26.77% stake and other individuals will sell 41.5% stake under the transaction. As per the agreement 0.2 million shares will be acquired.

The Board of Directors of Nicca Chemical Co.,Ltd. resolved the acquisition. The tentative share transfer date is June 30, 2015.