ThreePro Group Inc. signed a share exchange contract to acquire Asset Design Co., Ltd. from Takeshi Wakabayashi for approximately ¥120 million.
Asset Design Co., Ltd. reported total assets of ¥213 million, net assets of ¥60 million, sales of ¥724 million, operating loss of ¥26 million and net loss of ¥21 million for the year ending March 2015. The transaction is subject to approval from the shareholders of Asset Design Co., Ltd. The shareholders' meeting of Asset Design Co will be held on October 30, 2015 to consider the deal. The Board of ThreePro Group resolved the deal on October 5, 2015. The transaction is expected to complete on November 2, 2015.