Japan Pile Corporation (TSE:5288) agreed to acquire an additional 3.45% stake in Phan Vu Investment Corporation for approximately ¥120 million on December 20, 2013. Japan Pile Corporation will acquire 1 million shares and, thereby, increase stake it stake in Phan Vu Investment to 52.4%. Phan Vu Investment reported net assets of ¥1.43 billion, total assets of ¥4.62 billion, sales of ¥2.64 billion, operating loss of ¥48 million and net loss of ¥42 million for the year ended December 2012.

The Board of Directors of Japan Pile Corporation passed a resolution on the transaction on December 20, 2013. The share transfer is scheduled to be executed on December 27, 2013.