EM Systems Co., Ltd. (TSE:4820) entered into basic agreement to acquire Cosmosystems Co Ltd from Data Horizon Corporation (TSE:3628) for approximately ¥150 million on August 21, 2014. EM Systems Co., Ltd. will acquire 0.08 million shares. EM Systems Co., Ltd. will operate Cosmosystems Co Ltd as its wholly owned subsidiary. For the year ended March 2014, Cosmosystems Co Ltd had net assets of ¥58 million, total assets of ¥563 million, sales of ¥1.1 billion, operating loss of ¥49 million, current loss of ¥47 million and net loss of ¥33 million. The Board of Directors of EM Systems Co., Ltd. made a resolution in favor of the transaction on August 21, 2014. The expected date for conclusion of the share transfer contract is September 9, 2014. As of September 9, 2014, Board of Directors of Data Horizon passed the resolution to sign the share transfer agreement of the transaction. The transaction is expected to close on October 1, 2014. The advisory expenses are ¥2 million.

EM Systems Co., Ltd. (TSE:4820) completed the acquisition of Cosmosystems Co Ltd from Data Horizon Corporation (TSE:3628) on October 1, 2014.