LINE Corporation (TSE:3938) entered into an ordinary share transfer agreement to acquire 22% stake in Yume no Machi Souzou Iinkai Co., Ltd. (JASDAQ:2484) from Kito Planning Y.K. and Tetsuya Ichimura an existing shareholders for ¥4 billion on October 13, 2016. LINE will acquire 2.2 million shares out of which Kito Planning Y.K. will sell its 1.32 million share and Tetsuya Ichimura will sell its 0.9 million shares. The deal is expected to close by October 14, 2016. The deal was approved by the Board of Directors of LINE. The impact of the acquisition on LINE's consolidated results for the current term is not expected to be material.

LINE Corporation (TSE:3938) completed the acquisition of 22% stake in Yume no Machi Souzou Iinkai Co., Ltd. (JASDAQ:2484) from Kito Planning Y.K. and Tetsuya Ichimura an existing shareholders in October 2016.