Biko Co., Ltd. signed share transfer agreement to acquire 46.7% stake in Good Style Company Co., LTD from Softfront Holdings Co., Ltd. (JASDAQ:2321) for approximately ¥370 million on December 27, 2017. Softfront Holdings will sell 28 shares and will continue to hold 10 shares representing 16.66% stake in Good Style Company Co., LTD. Under the terms of the transaction, the consideration will be paid in tranches, ¥120 million will be paid on December 28, 2017, 33.33 million will be paid every year from December 28, 2018 till December 28, 2021 and ¥40 million will be paid on December 28, 2022. Good Style Company Co., LTD reported total assets of ¥1.9 billion, net assets of ¥70 million, sales of ¥749 million, operating loss of ¥122 million and net loss of ¥240 million for the year ended March 31, 2017. The transaction is resolved by the Board of Softfront Holdings on December 27, 2017 and is expected to complete on December 28, 2017.