Senshukai Co., Ltd. (TSE:8165) entered into basic agreement to acquire Shufunotomo-Direct Co., Ltd. from JALUX Inc. (TSE:2729) for approximately ¥170 million on August 27, 2013. A share purchase agreement will be signed on September 25, 2013. Senshukai Co., Ltd. entered into share transfer agreement to acquire Shufunotomo-Direct Co., Ltd. from JALUX Inc. on September 25, 2013.

JALUX Inc. will sell its entire stake in Shufunotomo-Direct comprising 4,555 shares. During the year ended March 2013, Shufunotomo-Direct Co., Ltd. had net assets of ¥249 million, total assets of ¥1.06 billion, sales of ¥3.82 billion, operating loss of ¥66 million, current loss of ¥69 million, and net loss of ¥55 million. Board of Directors of JALUX Inc. passed a resolution for the transaction on August 27, 2013 and on September 25, 2013.

The transaction is expected to close on September 30, 2013.