Relo Group, Inc. (TSE:8876) entered into share purchase agreement to acquire 92.99% stake in Associates for International Research, Inc. from The Venture Capital Fund of New England and others for approximately ¥2.1 billion ($20.4 million) on September 13, 2016. As per terms, Relo Group will acquire approximately 0.5 million series A preferred stock and approximately 0.12 million common stock. Pursuant to acquisition, wholly-owned subsidiaries of Associates for International Research will become consolidated subsidiaries of Relo Group. For the year ended December 2015, Associates for International Research reported net liabilities of $2.2 million, total assets of $7.5 million, revenue of $22.6 million and operating profit of $1.3 million. The transaction is expected to complete on September 30, 2016. The acquisition is expected to have no impact on Relo Group's financial performance for fiscal year March 31, 2016. The conversion has been done through www.oanda.com as of September 13, 2016. Relo Group, Inc. (TSE:8876) completed the acquisition of 92.99% stake in Associates for International Research, Inc. from The Venture Capital Fund of New England and others on September 30, 2016.