HAPC Co., Ltd. agreed to acquire 99.93% stake in CLSG Private Placement Specialty Company No. 1 from TETSUJIN Inc. (TSE:2404) for KRW 2.2 billion on May 9, 2014. HAPC Co., Ltd. agreed to acquire 3 billion shares of CLSG Private Placement Specialty Company.

For the year ending December 2013, CLSG Private Placement Specialty Company No. 1 reported total assets of KRW 2.94 billion, net assets of KRW 2.93 billion, operating loss of KRW 68 million and net loss of CNY 68 million. HAPC Co., Ltd. entered into transfer contract to acquire 99.93% stake in CLSG Private Placement Specialty Company No.

1 from TETSUJIN Inc. on June 9, 2014.