S&G Housing Co., Ltd. signed a share transfer contract to acquire House Bank International, K.K. from VLC Holdings Co., Ltd. (NSE:2467) for approximately ¥230 million on December 26, 2016. Under the terms of the transaction, S&G Housing Co., Ltd. will acquire 200 shares of House Bank International, K.K. Post closing, S&G Housing Co., Ltd. will hold 200 shares and VLC Holdings Co., Ltd. will not hold any shares in House Bank International, K.K. For the period ended March 31, 2016, House Bank International, K.K. had net assets of ¥128 million, total assets of ¥629 million, sales of ¥1.1 billion, operating profit of ¥28 million and net income of ¥16 million. The transaction is subject to the approval from the shareholders of VLC Holdings Co., Ltd., the meeting for which has been scheduled for February 9, 2017. The transaction was resolved by the Board of Directors of VLC Holdings Co., Ltd. on December 26, 2016. As of February 9, 2017, the transaction has been approved in extraordinary shareholders’ meeting of VLC Holdings Co., Ltd. The transaction is expected to close on February 10, 2017. As announced on February 13, 2017, the transaction is expected to close on March 10, 2017.