Relo-X Communications Limited signed a contract to acquire License World business of PA Co., Ltd. (TSE:4766) on November 29, 2011. For the year ending December 2010, the License World business reported sales of ¥44.03 million and operating loss of ¥2.06 million. The transaction is not subject to approval of shareholders of PA Co., Ltd. The transaction was resolved by the Board of Directors of PA Co. on November 29, 2011. The transaction is expected to complete on December 1, 2011. The transaction will have negligible impact on the consolidated business results of PA Co.

Relo-X Communications Limited cancelled the acquisition of License World business of PA Co., Ltd. (TSE:4766) on November 29, 2012.