Cross Marketing Group Inc. (TSE:3675) agreed to acquire remaining 69.88% stake in Research & Development, Inc. from Zuisho Kuwata, Tomiko Ushikubo, Hiroyasu Morikawa, Yoshinobu Takayama, Kumiko Kobayashi and Masanori Hirano for approximately ¥140 million on February 19, 2015. Cross Marketing will acquire 0.014 million shares of Research & Development. For the year ended May 2014, Research & Development reported net assets of ¥273.5 million, total assets of ¥1.2 billion, net sales of ¥2.2 billion, operating income of ¥47.56 million and net loss ¥36.79 million. The Board of Cross Marketing resolved the acquisition of Research & Development. The agreement is expected to be concluded on February 19, 2015 and transaction is expected to be completed on February 19, 2015.

Cross Marketing Group Inc. (TSE:3675) completed the acquisition of remaining 69.88% stake in Research & Development, Inc. from Zuisho Kuwata, Tomiko Ushikubo, Hiroyasu Morikawa, Yoshinobu Takayama, Kumiko Kobayashi and Masanori Hirano on February 19, 2015.