VALUE GOLF Inc. (TSE:3931) signed a basic agreement to acquire Japan Tourist-Bureau Co., Ltd. from Yoshihiro Takaya for ¥3 million on December 14, 2017. VALUE GOLF Inc. concluded a share transfer agreement to acquire Japan Tourist-Bureau Co., Ltd. from Yoshihiro Takaya on January 22, 2018. As per terms, 82,000 shares will be acquired. Post transaction, Japan Tourist-Bureau Co., Ltd will operate as a subsidiary of VALUE GOLF Inc. For the fiscal year ended December, 2016, Japan Tourist-Bureau Co., Ltd. reported net assets of ¥0.52 million, total assets of ¥32.9 million, sales of ¥48.8 million, operating loss and net loss of ¥2.9 million. The Board of Directors of VALUE GOLF Inc. resolved the basic agreement on December 14, 2017. The Board of Directors of VALUE GOLF Inc. resolved the conclusion of the share transfer agreement on January 22, 2018. A stock transfer agreement is expected to be signed on January 22, 2018 and deal is expected to close on February 1, 2018. Advisory expenses of ¥1 million are incurred in the transaction.