Oiles Corporation (TSE:6282) concluded a share exchange contract to acquire remaining 22.2% stake in Unipla Corporation from Gun Ei Chemical Industry Co., Ltd. for approximately ¥410 million on September 22, 2017. As consideration, Oiles Corporation will allot 11 shares for every one share of Unipla Corporation being acquired. Oiles Corporation will issue 0.19 million shares in total. Post completion, Unipla Corporation will operate as a wholly owned subsidiary of Oiles Corporation. For the year ended March 31, 2017, Unipla Corporation reported total assets of ¥1.9 billion, revenues of ¥1.7 billion, operating profit of ¥137 million and net assets of ¥1.5 billion. The deal requires approval from shareholders of Oiles Corporation in Extraordinary shareholders meeting on November 16, 2017. The Board of Directors of Oiles Corporation and Unipla Corporation resolved to approve the deal on September 22, 2017. The deal is expected to close on December 15, 2017.

Oiles Corporation (TSE:6282) completed the acquisition of remaining 22.2% stake in Unipla Corporation from Gun Ei Chemical Industry Co., Ltd. on December 15, 2017.