Fasteps Co., Ltd. (TSE:2338) signed a contract to acquire M&K Ltd. from Yukio Murai and another shareholder for ¥1.5 billion on October 15, 2015. Fasteps Co., Ltd. will acquire 743 shares of M&K Ltd. In a related transaction, Fasteps Co., Ltd. (TSE:2338) agreed to acquire Plurecil Holdings Limited from Yukio Murai for ¥1 billion. M&K Ltd. reported total assets of ¥750.4 million, net assets of ¥584.51 million, sales of ¥842.8 million, operating profit of ¥131.14 million and net income of ¥88.78 million for the period ending March 2015.

The transaction was resolved by the Board of Fasteps Co., Ltd. The transaction is expected to complete on November 1, 2015.