Rasa Corporation (TSE:3023) signed a contract to acquire the remaining 16.59% stake in IZUMI Corporation from 12 people for ¥54.7 million on January 17, 2014. Rasa Corporation is acquiring 0.02 million shares of IZUMI Corporation representing 16.59% stake. Rasa Corporation is issuing 0.11 million shares to acquire the remaining stake with one share of IZUMI Corporation will be exchanged for 5 shares of Rasa Corporation. For the period ending March 2013, IZUMI Corporation reported total assets of ¥4.59 billion, net assets of ¥843 million, sales of ¥9.4 billion, operating profit of ¥112 million and net profit of ¥27 million. The transaction has been resolved by Board of Directors of Rasa Corporation and still is subject to approval by shareholders' meeting of Izumi. The transaction is expected to close by March 17, 2014. Orion Advisor Services, LLC calculed the share exchange ratio.

Rasa Corporation (TSE:3023) cancelled the acquisition of the remaining 16.59% stake in IZUMI Corporation from 12 people on January 17, 2015.