OOTOYA Holdings Co., Ltd. (JASDAQ:2705) agreed to acquire remaining 52.6% stake in OOTOYA (Shanghai) Restaurant Management Co., Ltd. from Shanghai Hejiumei Restaurant Management Co., Ltd. for approximately ¥120 million on November 27, 2013. OOTOYA Holdings Co already holds 47.4% stake in OOTOYA (Shanghai) Restaurant Management Co., Ltd and following the completion of the deal, OOTOYA (Shanghai) Restaurant Management Co., Ltd will become wholly owned subsidiary of OOTOYA Holdings Co., Ltd. OOTOYA (Shanghai) reported net assets of ¥79 million, total assets of ¥93 million, sales of ¥37 million, operating loss of ¥48 million and net loss of ¥50 million for year ended December 2012. The transaction was resolved by Board of Directors of OOTOYA Holdings on November 27, 2013. The transaction is expected to be completed in December 2013.

OOTOYA Holdings Co., Ltd. (JASDAQ:2705) completed the acquisition of remaining 52.6% stake in OOTOYA (Shanghai) Restaurant Management Co., Ltd. from Shanghai Hejiumei Restaurant Management Co., Ltd. on December 17, 2013.