Starts Corporation, Inc. (JASDAQ:8850) entered into share exchange contract to acquire remaining 89.1% stake in Weave Corporation from Hisashi Muraishi and other sellers for approximately ¥270 million in stock on January 9, 2014. Starts Corporation, Inc. will issue 208 shares for each share of Weave Corporation. Hisashi Muraishi will sell its 57.2% stake. In related transactions, Starts Corporation, Inc. will acquire remaining shares in Starts Securities Co., Ltd. and Starts Amenity Co., Ltd. Starts Corporation, Inc. will operate Weave Corporation as its wholly owned subsidiary. Weave Corporation reported sales of ¥651 million, operating profit of ¥132 million and net income of ¥85 million for year ended March 2013.

Board of Directors of Starts Corporation and Weave Corporation passed a resolution for the transaction on January 9, 2014. The expected date for extraordinary shareholders meeting of Weave Corporation is February 18, 2014. Starts Corporation, Inc. plans to carry out the share exchange without obtaining approval from its shareholders, following the simple share exchange process in accordance with the regulations of Japan's Companies Act. The transaction is expected to close on April 1, 2014.

Starts Corporation, Inc. (JASDAQ:8850) completed the acquisition of remaining 89.1% stake in Weave Corporation from Hisashi Muraishi and other sellers on April 1, 2014.