Placo Co., Ltd. (TSE:6347) signed a basic agreement to acquire Kyowa DC, Inc and Tamadai Corporation from jinwen Metals Co., Ltd and Dalian Jinwen Metal Products Co., Ltd on January 23, 2023. Placo Co., Ltd. will acquire 1000 shares of Kyowa DC, Inc from Dalian Jinwen Metal Products Co., Ltd and will acquire 7,771 Shares of Tamadai Corporation from Dalian Jinwen Metal Products Co., Ltd and Jinwen Metals Co., Ltd Constituting 100% stake. Tamadai Corporation reported Total assets worth ¥2.1 billion, Total Common equity of ¥636 million, sales of ¥1.56 billion,Net loss of ¥163 million and Operating loss of ¥156 million in year ending march 31, 2022. formal agreement is expected to be signed on March 31, 2023. As of March 31, 2023, the board has intimated that it needs more time to conduct diligence and the signing of a formal agreement has been postponed.

Placo Co., Ltd. (TSE:6347) cancelled the acquisition of Kyowa DC, Inc and Tamadai Corporation from jinwen Metals Co., Ltd and Dalian Jinwen Metal Products Co., Ltd on June 12, 2023. As the conditions for the share acquisition have not been met therefore board of directors have decided to cancel the transaction.