Culture Convenience Club Co., Ltd. signed a contract to acquire an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd. (TSE:7640) on August 22, 2013. Culture Convenience Club Co., Ltd. will acquire 1750 shares of Tsutaya Stationery Network Co., Ltd. representing 35% stake and post transaction Culture Convenience Club Co., Ltd. will hold 86% stake in Tsutaya Stationery Network Co., Ltd. The Board of Directors of Top Culture Co., Ltd. passed a resolution for the transaction on August 22, 2013 and the transaction is expected to close by August 30, 2013.
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- Culture Convenience Club Co., Ltd. signed a contract to acquire an additional 35% stake in Tsutaya Stationery Network Co., Ltd. from Top Culture Co., Ltd..