Advanex Inc. (TSE:5998) and Advanex (Singapore) Pte. Ltd. reached a resolution to acquire remaining 86% stake in PT Yamakou Indonesia from Osamu Kusaka and Teng Oen Hwa for approximately ¥430 million (IDR 48.8 billion) on December 19, 2016. The share transfer contract was concluded on December 20, 2016. Under the terms of the transaction, Advanex will acquire an additional controlling 0.13 million shares (78.21% stake) and pay ¥391.06 million (IDR 44.4 billion) and Advanex (Singapore) Pte. Ltd. will acquire 0.01 million shares (7.79% stake) and pay ¥38.94 million (IDR 4.4 billion). Osamu Kusaka will sell 0.13 million shares (78.21% stake) and Teng Oen Hwa will sell 0.01 million shares (7.79% stake). Post closing, Advanex Inc. will hold 0.15 million shares (92.21% stake) and Advanex (Singapore) Pte. Ltd. will hold 0.01 million shares (7.79% stake) in PT Yamakou Indonesia. Post closing, PT Yamakou Indonesia will become a subsidiary of Advanex Inc. For the period ended December 31, 2015, PT Yamakou Indonesia had net assets of IDR 15.2 billion, total assets of IDR 78.1 billion, sales of IDR 150.5 billion, operating loss of IDR 20.6 billion and net loss of IDR 18 billion. On December 19, 2016, the transaction was resolved by Board of Directors of Advanex Inc. The transaction is expected to complete on January 12, 2017. The currency conversions were done from www.oanda.com on December 19, 2016. Advanex Inc. (TSE:5998) and Advanex (Singapore) Pte. Ltd. completed the acquisition of remaining 86% stake in PT Yamakou Indonesia from Osamu Kusaka and Teng Oen Hwa on January 12, 2017.