ShangHai Xiangqian Roulei Fushi Co., Ltd. agreed to acquire Okato Business Service Co., Ltd from Okato Holdings Inc. (JASDAQ:8705) for ¥8,000 on December 14, 2012. ShangHai Xiangqian Roulei Fushi Co., Ltd. will acquire 8000 shares of Okato Business Service Co., Ltd. at a price per share of ¥1. For the period ending March 2012, Okato Business Service Co., Ltd reported total assets of ¥1.4 billion, net assets of ¥51.5 million, sales of ¥0.15 million, operating loss of ¥111.95 million and net loss of ¥322.75 million. The transaction has been resolved by Board of Directors of Okato Holdings Inc. and is expected to close by the end of January 2013.

ShangHai Xiangqian Roulei Fushi Co., Ltd. completed the acquisition of Okato Business Service Co., Ltd from Okato Holdings Inc. (JASDAQ:8705) on January 4, 2013.