WonderCorporation (JASDAQ:3344) signed a basic agreement to acquire 66.5% stake in K-Corporation Inc. from Kan Sekiguchi and Sunleisure, Inc. on May 23, 2013. On August 29, 2013, WonderCorporation signed capital and business alliance agreement to acquire 66.5% stake in K-Corporation for approximately ¥200 million. WonderCorporation will acquire 399 shares of K-Corporation at the price of ¥0.5 million per share. K-Corporation reported net assets of ¥376.87 million, total assets of ¥1.83 billion, sales of ¥4.88 billion, operating profit of ¥38.19 million and net income ¥15.37 million for period ending March, 2013.

The transaction was resolved by Board of Directors of WonderCorporation on May 23, 2013. The signing of capital and business alliance agreement and completion of transaction is expected to take place on September 1, 2013.