Kyokuto Boeki Kaisha, Ltd. (TSE:8093) concluded a contract to acquire 67.3% stake in Sanei Tsusho YK from Yuki Eto and Kan Eto for approximately ¥870 million on March 23, 2015. Under the terms of the deal, Kyokuto Boeki Kaisha will acquire 0.01 million shares. In a related transaction, Kyokuto Boeki Kaisha, Ltd. (TSE:8093) concluded a contract to acquire 50.8% stake in Eto Corporation from Yuki Eto, Kan Eto and Naoto Nakamura for ¥6.3 billion in cash on March 23, 2015. For the period ended June, 2014, Sanei Tsusho YK had net assets of ¥105 million, total assets of ¥105 million, net sales of ¥11 million, operating income of ¥10 million, ordinary income of ¥10 million and net income of ¥9 million. The transaction was resolved by Board of directors of Kyokuto Boeki Kaisha on March 23, 2015. The transaction is expected to close on May 1, 2015.

As of August 18, 2015, Kyokuto Boeki Kaisha secured a loan of ¥13.5 billion from The Bank of Tokyo-Mitsubishi UFJ, Ltd to fund the transaction.

Kyokuto Boeki Kaisha, Ltd. (TSE:8093) cancelled the acquisition of 67.3% stake in Sanei Tsusho YK from Yuki Eto and Kan Eto on March 23, 2016.