Hinokiya Holdings Co., Ltd. (NSE:1413) agreed to acquire 40% stake in Life Support co., ltd. from Meiko Network Japan Co., Ltd. (TSE:4668) for ¥520 million on December 16, 2013. Hinokiya Holdings will acquire 2000 shares of Life Support. Hinokiya Holdings will enter into a contract on December 18, 2013. Life Support reported net assets of ¥548.72 million, total assets of ¥3.5 billion, sales of ¥3.41 billion, operating profit of ¥35.64 million and net income of ¥34.66 million for year ended September 2012. The Board of Directors of Hinokiya Holdings passed a resolution for the transaction on December 16, 2013. The transaction completion is expected to take place on December 18, 2013. As on January 31, 2014, Hinokiya Holdings owns 35.1% stake in Life Support co., ltd.

Hinokiya Holdings Co., Ltd. (NSE:1413) completed the acquisition of 40% stake in Life Support co., ltd. from Meiko Network Japan Co., Ltd. (TSE:4668) in the year ended August 31, 2014.