SE Corp. (JASDAQ:3423) signed a contract to acquire Morita Kosan, Ltd. from Yoshihito Morita, Hiroshi Morita, Shigeko Morita and Naoki Morita for ¥230 million in cash on March 30, 2015. SE Corp. will acquire all 2,000 shares of Morita Kosan, Ltd. The acquisition of shares is to be done with funds on hand. As part of the deal, the name of Morita Kosan, Ltd. will be changed to Morita Kosan Co., Ltd. Morita Kosan, Ltd. reported net assets of ¥82 million, total assets of ¥462 million, sales of ¥620 million, operating profit of ¥31 million and net income of ¥21 million for the period ending September 2014. The Board of Directors resolved the transaction on March 30, 2015. The transaction is expected to close on April 2, 2015, with the name to be changed on April 3, 2015.

SE Corp. (JASDAQ:3423) cancelled the acquisition of Morita Kosan, Ltd. from Yoshihito Morita, Hiroshi Morita, Shigeko Morita and Naoki Morita on March 30, 2016.