CASSINA IXC. Ltd. (JASDAQ:2777) signed a basic agreement to acquire LmD Co., Ltd. from LmD International Co., Ltd. on June 23, 2014. CASSINA IXC.

Ltd. is acquiring 8000 shares of LmD Co., Ltd. For the period ending December 2013, LmD Co., Ltd reported total assets of ¥1.34 billion, net assets of ¥43 million, sales of ¥2.5 billion, operating loss of ¥202 million and net loss of ¥196 million. Conclusion of share transfer contract is expected in late August 2014. The deal is expected to close in September 1, 2014.