Asmo Corporation (OSE:2654) entered into a contract to acquire additional 84.19% stake in Servant Trust Co., Ltd. from Backers Co., Ltd and Yenbridge Inc., Investment Arm for approximately ¥250 million on December 19, 2012. Backers Co., Ltd and Yenbridge Inc., Investment Arm will sell 66.9% and 17.2% stake respectively. Post transaction, Asmo Corporation will own 5,248 shares corresponding to 90.48% stake in Servant Trust'. The transaction will be financed from the existing funds. Servant Trust reported net assets of ¥58.02 million, total assets of ¥81.18 million, sales of ¥70.09, net loss of ¥48.4 million and operating loss of ¥27.9 for the year ending March 31, 2012. The Board of Asmo Corporation resolved the transaction on December 19, 2012. The transaction is expected to close on December 26, 2012.

Asmo Corporation (OSE:2654) completed the acquisition of an additional 84.19% stake in Servant Trust Co., Ltd. from Backers Co., Ltd and Yenbridge Inc., Investment Arm on December 26, 2012.