UKC Holdings Corporation (TSE:3156) entered into an absorption-type merger agreement to acquire remaining 99.99% stake in Vitec Holdings Co., Ltd. (TSE:9957) for ¥35.1 billion on September 14, 2018. UKC Holdings Corporation will allot 14.37 million shares to shareholders of Vitec Holdings Co., Ltd. at a consideration exchange ratio of 1. As a part of the transaction, after completion of the absorption-type merger agreement, UKC Holdings Corporation and VITEC GLOBAL ELECTRONICS CO., LTD., a wholly-owned subsidiary of Vitec Holdings Co., Ltd. will enter into an absorption-type company split agreement, in which UKC Holdings Corporation will acquire VITEC GLOBAL ELECTRONICS CO., LTD. Before the merger agreement, UKC Holdings Corporation hold 0.0011 million shares in Vitec Holdings Co., Ltd., representing 0.01% stake and after completion of the merger agreement, Vitec Holdings Co., Ltd. will become the wholly owned subsidiary of UKC Holdings Corporation and Vitec Holdings Co., Ltd. will be delisted from stock exchange, UKC Holdings Corporation will be the surviving company and Vitec Holdings Co., Ltd will be absorbed. UKC Holdings Corporation will change its trade name to Restar Holdings Corporation on the effective date of April 1, 2019. Vitec Holdings Co., Ltd. reported a net assets of ¥16.31 billion, total assets of ¥77 billion, net sales of ¥185.88 billion and operating income of ¥3.13 billion for the year ended March 31, 2018. The transaction is subject to approval from shareholders of UKC Holdings Corporation and Vitec Holdings Co., Ltd. at a meeting which will be held on September 30, 2018 and the effectuation of the merger. Vitec Holdings Co., Ltd. will hold an Extraordinary General Meeting of Shareholders on November 27, 2018. Anderson Mori & Tomotsune LPC and Mori Hamada & Matsumoto LPC acted as legal advisors for UKC Holdings Corporation and Vitec Holdings Co., Ltd. respectively. UKC Holdings Corporation (TSE:3156) completed the acquisition of remaining 99.99% stake in Vitec Holdings Co., Ltd. (TSE:9957) on March 27, 2019.