Sugita Ace Co. Ltd. (JASDAQ:7635) agreed to acquire 80% stake in Mashimo, K.K. from Hiroyuki Mashimo, Toshiko Mashimo, Yuji Mahimo, and Chizuko Mashimo on October 19, 2012. Sugita Ace Co.

Ltd. acquired 0.07 million shares of Mashimo, K.K. representing 80% stake. For the period ending October 2011, Mashimo, K.K. reported total assets of ¥852.8 million, net assets of ¥422.3 million, sales of ¥1.5 billion, net loss of ¥0.8 million and operating loss of ¥23.6 million. The transaction has been resolved by Board of Directors of Sugita Ace Co.

Ltd. and is expected to complete by November 30, 2012.