Kufu Company Inc. (TSE:4399) signed share transfer agreement to acquire Fukuro Small Amount and Short Term Insurance Co., Ltd. from Fujitomi Co.,Ltd. (JASDAQ:8740) and two individual shareholders on August 14, 2019. As per terms, all 32,820 shares will be acquired. Post completion, Fukuro Small Amount and Short Term Insurance Co., Ltd. will operate as a wholly owned subsidiary. Fukuro Small Amount and Short Term Insurance Co., Ltd. will be excluded from the consolidated financial statements of the Hiroyuki Kobayashi Co., Ltd. from the third quarter of the fiscal year ending March 31, 2020 onwards. Kufu Company Inc. plans to use its own funds for the acquisition of shares. For the year ended March 31, 2019, Fukuro Small Amount and Short Term Insurance Co., Ltd. reported revenues of ¥83 million, total assets of ¥28 million, net loss of ¥37 million and net assets of ¥19 million. The deal is subject to approval from authorities. The Board of Directors of Kufu Company Inc. resolved the deal on August 14, 2019. Due to changes in the capital policy of the transferee, some of the shares owned by Fujitomi Co., Ltd. before the transfer have been changed to class shares. In addition, the share transferee has changed from Kufu Company to Kufu Company and four individuals. The transfer of shares is scheduled for late March 2020. Kufu Company Inc. (TSE:4399) cancelled the acquisition of Fukuro Small Amount and Short Term Insurance Co., Ltd. from Fujitomi Co.,Ltd. (JASDAQ:8740) and two individual shareholders on August 14, 2020.