Kuwazawa Trading Co. Ltd. (SPSE:8104) agreed to acquire the remaining 16.67% stake in FK Tsutai, K.K. for JPY 23.6 million in stock on August 12, 2014. Kuwazawa Trading will issue 0.04 million shares as part of the consideration, as one share of FK TSUTAI to be exchanged with 205 shares of Kuwazawa Trading. The company will allocate treasury shares that it holds for the common shares that we will exchange, and not carry out the issuance of new shares. FK Tsutai will be subsequently dissolved. For the fiscal year ending March 31, 2014, net assets were ¥188 million, total assets were ¥2.93 billion, sales of ¥12.82 billion, operating profit of ¥115 million and net profit of ¥74 million. The transaction is subject to approval from shareholders of Kuwazawa Trading. The transaction is expected to close on October 1, 2014.

Kuwazawa Trading Co. Ltd. (SPSE:8104) cancelled the acquisition of the remaining 16.67% stake in FK Tsutai, K.K. on August 12, 2015.