Hakuten Co., Ltd. (JASDAQ:2173) agreed to acquire the remaining 24.66% stake in iact Corporation from Motoo Suzuki and others for ¥74 million in stock on January 15, 2015. Hakuten Co., Ltd. is acquiring 1450 shares of iact Corporation and issuing 92 shares for every share of iact Corporation. For the period ending May 2014, iact Corporation reported total assets of ¥309 million, net assets of ¥115 million, sales of ¥547 million, operating profit of ¥37 million and net profit of ¥28 million. The Board of Directors of Hakuten Co., Ltd. passed a resolution on January 15, 2015. The transaction is expected to be approved by the shareholders of Hakuten Co., Ltd. on January 29, 2015. The transaction is expected to be closed by February 10, 2015.

Hakuten Co., Ltd. (JASDAQ:2173) completed the acquisition of remaining 24.66% stake in iact Corporation from Motoo Suzuki and others on February 10, 2015. Hakuten Co., Ltd. operates as wholly owned subsidiary of iact Corporation.