Central Automotive Products Ltd. (TSE:8117) agreed to acquire 34% stake in Ace International Trade Co., Ltd from Akira Shibasaki for approximately ¥250 million in cash on December 9, 2015. Central Automotive Products will acquire 102 shares of Ace International. Ace International reported net assets of ¥614 million, total assets of ¥681 million and sales of ¥766 million for the year ended September 30, 2015.

The transaction is expected to close on December 11, 2015.