Yaoko Co., Ltd. (TSE:8279) entered into basic agreement to acquire ave Corporation from Kimura Shoten Co., Ltd. and ave Development Co., Ltd. on October 10, 2016. A share transfer contract was signed on December 12, 2016. The sellers will sell 57.6% and 42.4% stake respectively. Post this transaction, ave Corporation will operate as a wholly owned subsidiary of Yaoko Co., Ltd. In a related deal, Yaoko Co., Ltd. agreed to acquire ave Development Co., Ltd. For the year ended March 31, 2016, ave Corporation reported net assets of ¥16.07 billion, total assets of ¥33.15 billion, sales of ¥48.38 billion, operating profit of ¥2.29 billion and net income of ¥1.72 billion. The board of directors of Yaoko Co., Ltd. resolved the deal. The deal is expected to close by April 3, 2017. Yaoko Co., Ltd. (TSE:8279) completed the acquisition of ave Corporation from Kimura Shoten Co., Ltd. and ave Development Co., Ltd. in April 2017.