Palma Co., Ltd. (TSE:3461) signed a share transfer contract to acquire 20% stake in Trunk System Industry Co., Ltd. from a representative on October 19, 2018. In a related deal, Palma Co., Ltd. (TSE:3461) will subscribe for an unknown stake in Trunk System Industry Co., Ltd. As a result, Trunk System Industry will become an affiliate of Palma. Board of Palma Co., Ltd. resolved in favor of the deal and deal is expected to close on October 31, 2018. Palma Co., Ltd. (TSE:3461) cancelled the acquisition of 20% stake in Trunk System Industry Co., Ltd. from a representative on October 19, 2019.