Hurxley Corporation (TSE:7561) signed a basic agreement to acquire 90% stake in Meitens Co., Ltd. from Meitensu, K.K. on December 11, 2018. Under the transaction, Hurxley Corporation acquires 0.1 million shares. During the financial year ended March 2018, Meitens Co., Ltd. reported net assets of ¥3.3 billion, total assets of ¥7 billion, sales of ¥7.6 billion, net profit of ¥231 million and recurring profit of ¥396 million. The transaction has been resolved by the Board of Directors of Hurxley Corporation. Conclusion of the share transfer contract is expected to be signed in December 2018. The transaction is expected to be completed in January 2019.