Yamax Corp. (JASDAQ:5285) signed a merger agreement to acquire remaining 8.93% stake in Shigemori Kosan Co., Ltd. on May 28, 2012. By absorption and merger method, Yamax Corp. will be the surviving company and Shigemori Kosan Co., Ltd. will be dissolved by this merger. Shigemori Kosan Co., Ltd reported net liabilities of ¥726.86 million, total assets of ¥820 million, sales of ¥20.45 million, operating loss of ¥15.88 million and net loss of ¥71.02 million for the year ending March 2011. The Board of Directors of Yamax Corp. passed a resolution for the transaction on May 28, 2012. Shareholders' meeting for the approval of the merger agreement will be on June 28, 2012 and the transaction is expected to close by September 1, 2012.

Yamax Corp. (JASDAQ:5285) cancelled the acquisition of remaining 8.93% stake in Shigemori Kosan Co., Ltd. on May 28, 2013.