SFP Holdings Co., Ltd. (TSE:3198) signed a contract to acquire Joh Smile Restaurant System Inc. from Hiroyuki Maekawa on January 24, 2019. Under the terms, SFP Holdings will acquire 3600 shares of Joh Smile Restaurant System. Post-acquisition, Joh Smile Restaurant System will become a wholly owned subsidiary of SFP Holdings. For the fiscal year ended March 2018, Joh Smile Restaurant System reported net assets of ¥378.4 million, sales of ¥1.5 billion, operating income of ¥141.98 million and net income of ¥14.2 million. The transaction has been resolved by the Board of Directors of SFP Holdings Co., Ltd at the meeting held on January 24, 2019. The transaction is expected to be completed by March 1, 2019.