ADTEC Corporation (JASDAQ:6840) agreed to acquire Team Entertainment Inc. from Shin Kitahara for approximately ¥250 million on November 28, 2013. ADTEC will acquire 208 shares of Team Entertainment. Team Entertainment reported net assets of ¥58 million, total assets of ¥184 million, sales of ¥582 million, operating profit of ¥36 million and net income of ¥24 million for the year ended June 30, 2013.

An agreement for the transaction has been signed on December 26, 2013. The transaction is expected to close on December 26, 2013.