Oriental Agency Corporation signed a contract to acquire 73% stake in Minami Nippon Institute of Education Co., Ltd. from Frontier, Inc. for ¥27 million on February 10, 2016. Frontier will sell 730 shares of Minami Nippon Institute of Education. For period ended March 2015, Minami Nippon Institute of Education had total assets of CNY 37.50 million, net assets of CNY 37.28 million, sales of CNY 0, operating loss of CNY 0.50 million, net income of CNY 0.55 million and ordinary profit of CNY 0.73 million. The Board of Directors of Universal Solution Systems Inc., parent of Frontier, passed resolution for the transaction as on February 10, 2016. The share transfer execution date is expected to be March 1, 2016. Oriental Agency Corporation cancelled the acquisition of 73% stake in Minami Nippon Institute of Education Co., Ltd. from Frontier, Inc. as of February 10, 2017.