Toyo Tec Co. Ltd. (TSE:9686) signed a share transfer agreement to acquire Shinei Building Service Co.,Ltd., from Sanyo Corporation on March 26, 2020. Pursuant to the terms of the acquisition, Toyo Tec Co. Ltd., will acquire 0.01 shares of Shinei Building Service Co.,Ltd. Post completion, Shinei Building Service Co.,Ltd., will become a wholly-owned subsidiary of Toyo Tec Co. Ltd. For the year ended September 30, 2019, Shinei Building Service Co.,Ltd., had net assets of ¥163.3 million, sales of ¥1.1 billion, operating profit of ¥12.9 million and net income of ¥18.1 million. The impact of the transaction on Toyo Tec's business performance and consolidated business performance in the future is expected to be minor. Toyo Tec Co. Ltd. (TSE:9686) completed the acquisition of Shinei Building Service Co.,Ltd., from Sanyo Corporation on April 1, 2020.