LAC Holdings Inc. (JASDAQ:3857) concluded a share transfer contract to acquire I Net Rely Corporation from Leading Edge Co., Ltd and other shareholders on March 12, 2012. LAC Holdings Inc. will acquire 1362 shares of I Net Rely Corporation. Leading Edge Co., Ltd will sell 67.3% stake in I Net Rely Corporation. I Net Rely Corporation reported total assets of ¥697 million, net assets of ¥173 million, sales of ¥1.35 billion, operating profit of ¥8 million, current profit and net income of ¥3 million for the year ending November 2011.

The share transfer contract to be concluded by LAC Holdings Inc. and Leading Edge Co., Ltd. is subject to the LAC Holdings Inc.'s ownership of all shares of I Net Rely Corporation, through the acquisition of the remaining 32.7% stake from shareholders until April 1, 2012. The Board of Directors of LAC Holdings, Inc. passed a resolution for the transaction on March 12, 2012 and the transaction is expected to be completed on April 1, 2012.

LAC Holdings Inc. (JASDAQ:3857) completed the acquisition of I Net Rely Corporation from Leading Edge Co., Ltd and other shareholders in the year ending December 31, 2012.