Pado Corporation (JASDAQ:4833) signed an agreement to acquire Living Pro-Seed, Inc. from SANKEI LIVING SHIMBUN Inc. for ¥440 million on September 18, 2018. Under the terms, Pado Corporation will issue 1 million shares as consideration shares and one share of Living Pro-Seed's stock will be exchanged with 10 shares of the Pado Corporation. Upon completion, Living Pro-Seed, Inc. will operate as wholly owned subsidiary of Pado Corporation. For the year ended March 2018, Living Pro-Seed, Inc. reported total assets of ¥2.2 billion, net assets of ¥1.4 billion, sales of ¥7.2 billion, operating income of ¥21 million, and net income of ¥8 million. The extraordinary general meeting of shareholders of both Pado Corporation and Living Pro-Seed, Inc. will be held on October 31, 2018 to approve the transaction. The transaction was approved by the Board of Pado Corporation and Living Pro-Seed, Inc. on September 18, 2018. The transaction is expected to be completed by November 1, 2018. es Networks Co., Ltd. acted as third party appraiser in the transaction. Oh-Ebashi LPC & Partners acted as legal advisor to Pado Corporation. Pado Corporation (JASDAQ:4833) cancelled the acquisition of Living Pro-Seed, Inc. from SANKEI LIVING SHIMBUN Inc. on September 18, 2019.