Systemsoft Corp. (JASDAQ:7527) entered into merger contract to acquire Power Technology, Inc. from Septeni Holdings Co., Ltd. (JASDAQ:4293), Prestige International Inc (JASDAQ:4290), Incubate Capital Partners, Shozo Nakajima and other sellers for ¥2.6 billion in stock on October 31, 2012. Systemsoft Corp. will issue 6.62 shares for each share of Power Technology, Inc. and will issue total of 37.6 million shares in the transaction. Septeni Holdings Co., Ltd. will sell 15.85% stake, Prestige International Inc will sell 14.79% stake, and Incubate Capital Partners will sell 10.56% stake. Power Technology will be merged into Systemsoft Corp after the transaction. For the year ended March 31, 2012, Power Technology, Inc. had net assets of ¥1.51 billion, total assets of ¥1.88 billion, revenue of ¥1.92 billion, operating profit of ¥612 million, current profit of ¥614 million, and net income of ¥354 million.

Takashi Kawamori and Kuniaki Fuchinoue is currently auditor of Systemsoft and will resign as part of the conditions of the merger on December 31, 2012. Hiroaki Rokukawa will be nominated as new auditor of the company. Board of Directors of Systemsoft Corp. resolved the transaction on October 31, 2012. The transaction is subject to approval by Power Technology's shareholder meeting scheduled on December 5, 2012. As a result of the shares issued by Systemsoft Corp. for the acquisition, Apamanshop Holdings Co.,Ltd.'s stake in Systemsoft Corp. will be reduced from 63.56% to 35.85%.

The transaction was approved by shareholders of Systemsoft Corp. in a meeting held on December 14, 2012. The transaction is expected to close on January 1, 2013. Tokyo M&A Co., Ltd. acted as a valuer in the transaction.

Systemsoft Corp. (JASDAQ:7527) completed the acquisition of Power Technology, Inc. from Septeni Holdings Co., Ltd. (JASDAQ:4293), Prestige International Inc (JASDAQ:4290), Incubate Capital Partners, Shozo Nakajima and other sellers on January 1, 2013. Koji Ohmura will be Chairman of Board and Shozo Nakajima will be the Director and consultant. The Board of Directors will comprise of Yuichi Ogata, Mitsunobu Wada, Koji Ohmura, Yohei Hosoda, Michiko Hirayama and Hiroaki Rokukawa.