Kanematsu Communications Limited signed an agreement to acquire 13.5% in Nippon Telephone Inc. (JASDAQ:9425) from Gendai Shoji K.K. for approximately ¥190 million on October 23, 2019. As per terms, Kanematsu Communications Limited will acquire 0.46 million for ¥420 per share. Post completion, Gendai Shoji K.K. which currently holds 0.62 million shares will hold 0.16 million shares. The deal is expected to close on October 24, 2019. Kanematsu Communications Limited cancelled the acquisition of 13.5% in Nippon Telephone Inc. (JASDAQ:9425) from Gendai Shoji K.K. on October 23, 2020.