HotLand Co.,Ltd. (TSE:3196) signed a contract to acquire remaining 33.9% stake in L.A. Style Co., Ltd. from AEON Mall Co., Ltd. (TSE:8905) on October 11, 2017. As per terms, 20,000 shares will be acquired. An absorption merger will be carried out after L.A. Style is made a wholly owned subsidiary.

For the year ended December 31, 2016, L.A. Style Co., Ltd. reported net liabilities of ¥743.4 million, total assets of ¥402.9 million, sales of ¥581.3 million and operating loss of ¥296.7 million. The Board of Directors of Hotland Co., Ltd. resolved the transaction.