Nippon RAD, Inc. (JASDAQ:4736) entered into an agreement to acquire Arena-FX Co., Ltd. from Theater Television Co. Ltd. on February 23, 2012. On closing of the deal, Arena-FX Co., Ltd. will operate as a wholly owned subsidiary of Nippon RAD, Inc. This change of subsidiary will have minimal impact on the operating results of Nippon RAD, Inc. for the period ended March 2012.