Tokai Corp. (TYO:9729) has agreed to acquire all shares of QLC Produce from Idemitsu Kosan (TYO:5019) for approximately 2.91 billion yen, which could add 169 rehabilitation daycare stores to its elderly care operations.
Post-acquisition, the group will operate 206 such stores nationwide, with annual sales of roughly 3.2 billion yen.
The transaction is scheduled to be completed by July 31, with minimal immediate impact on consolidated earnings, according to a Tokyo bourse filing on Monday.
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