Asmo Corporation (OSE:2654) entered into a contract to acquire additional 84.19% stake in Servant Trust Co., Ltd. from Backers Co., Ltd and Yenbridge Inc., Investment Arm for approximately ¥250 million on December 19, 2012. Backers Co., Ltd and Yenbridge Inc., Investment Arm will sell 66.9% and 17.2% stake respectively. Post transaction, Asmo Corporation will own 5,248 shares corresponding to 90.48% stake in Servant Trust'.

The transaction will be financed from the existing funds. Servant Trust reported net assets of ¥58.02 million, total assets of ¥81.18 million, sales of ¥70.09, net loss of ¥48.4 million and operating loss of ¥27.9 for the year ending March 31, 2012. The Board of Asmo Corporation resolved the transaction on December 19, 2012.

The transaction is expected to close on December 26, 2012.