Suzhou Jiudeqi Electronic Technology Co., Ltd. agreed to acquire 90% stake in Suzhou Xinnan Package Products Co., Ltd. from Sanritsu Corporation (TSE:9366) for CNY 10 on May 20, 2016. As of December 2015, Suzhou Xinnan Package Products had net assets of CNY 1.9 million, total assets of CNY 7.15 million, sales of CNY 20.98 million, operating loss of CNY 0.52 million and net loss of CNY 0.23 million. The transaction is subject to approval from Chinese authorities. The transaction was resolved by the Board of Directors of Sanritsu Corporation on May 23, 2016. The contract conclusion date is May 26, 2016 and the planned stake transfer execution date is September 2016.