Elematec Corporation (TSE:2715) agreed to acquire Tomuki Corporation from Toyota Tsusho Corp. (TSE:8015) for ¥1 on August 22, 2014. Elematec Corporation will acquire 1.4 million shares of Tomuki Corporation.

After completion of the acquisition, Tomuki Corporation will be merged with Elematec Corporation. Tomuki Corporation reported total assets of ¥1479 million, Net liability of ¥23 million, revenue ¥3343 million, operating loss ¥128 million and net loss ¥157 million. The Board of Directors of Elematec Corporation of resolved the acquisition on August 22, 2014.

The acquisition is expected to be completed by October 31, 2014. The acquisition will have insignificant impact on Elematec Corporation's full year business results for the fiscal year ending March 2015. Ernst & Young Transaction Advisory Services Co., Ltd acted as valuer and Anderson Mori & Tomotsune LPC acted as legal advisor for Elematec Corporation.