Tokyo Century Corporation (TSE:8439) agreed to acquire 24.4% stake in Cyber Core Co.,Ltd. from UMC Electronics Co., Ltd. (TSE:6615) for approximately ¥140 million on November 22, 2016. Under the terms, Tokyo Century Corporation will acquire 300 shares at ¥0.25 million per share and 250 new shares at ¥0.25 million per share from UMC Electronics Co., Ltd. Post completion of the transactions, UMC Electronics Co., Ltd. will hold 35.6% stake or 800 shares and Tokyo Century Corp. will hold 24.4% stake.

As of March 31, 2016, Cyber Core Co.,Ltd. reported net assets of ¥19.5 billion and total assets of ¥64.1 million. UMC Electronics Co., Ltd. and Cyber Core Co.,Ltd. passed a resolution for the transaction on November 22, 2016. The transaction is expected to close on December 27, 2016.