FPT Japan Holdings Co., Ltd. entered into a share transfer agreement to acquire Softfront Development Service Co., Ltd. from Softfront Holdings Co., Ltd. (JASDAQ:2321) for ¥18 million on September 5, 2018. Under the terms of the agreement, 600 shares of Softfront Development Service will be acquired at ¥30,000 per share. Upon completion, Softfront Development Service will cease to be a subsidiary of Softfront Holdings. For the year ended March 31, 2018, Softfront Development Service reported sales of ¥136 million, operating loss of ¥64 million and net loss of ¥14 million. As of March 31, 2018, Softfront Development Service reported net assets of ¥44 million and total assets of ¥58 million. The Board of Directors of Softfront Holdings passed a resolution on the transaction on September 5, 2018 and the transaction is expected to close on September 13, 2018.