Chuco Co., Ltd. (NSE:2139) entered into a basic agreement to acquire remaining 80.5% stake in L Advertising Co., Ltd. from Hiroshi Shindo and other five individuals on January 31, 2013. Chuco agreed to acquire remaining 161 shares of L Advertising. L Advertising reported total assets of ¥50.99 million, net assets of ¥15.03 million, sales of ¥303.34 million, operating profit of ¥0.91 million and net income of ¥0.65 million for the period ending August 31, 2012.

The Board of Directors of Chuco has resolved to undertake the transaction on January 31, 2013 and the transaction is expected to close in early April 2013.