Akiba Holdings Co., Ltd. (JASDAQ:6840) agreed to acquire 49% stake in Iconic Storage K.k. from Hideaki Nagaki on March 31, 2016. Akiba Holdings Co., Ltd. signed a share exchange contract to acquire 49% stake in Iconic Storage K.k. from Hideaki Nagaki for ¥51.7 million on July 29, 2016. As per the terms, one share of Iconic Storage will be exchanged into 295.90 shares of Akiba. Akiba will acquire 737 shares of Iconic Storage. Iconic Storage will become a wholly owned subsidiary of Akiba. Iconic Storage reported for year ending May 2015, total assets of ¥25.23 million, net assets of ¥6.45 million, revenue of ¥70.65 million, operating profit of CNY 0.67 million and net profit of CNY 0.56 million. The deal is subject to approval of shareholders of Iconic Storage. The transaction is expected to complete on August 31, 2016. Akiba Holdings Co., Ltd. (JASDAQ:6840) cancelled the acquisition of 49% stake in Iconic Storage K.k. from Hideaki Nagaki on March 31, 2017.