Medius Holdings Co., Ltd. (JASDAQ:3154) entered into contract to acquire 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders for approximately ¥400 million in cash on March 21, 2013. Medius Holdings Co., Ltd. will acquire 3,210 shares of Akita Ika Kikaiten. In a related transaction, Medius Holdings Co., Ltd. will acquire 19.75% stake in Akita Ika Kikaiten, K.K. Michitoshi Sato will sell 60.75% stake and Shunsuke Sato will sell 18.62% stake. The six individual shareholders consist of executives and other shareholders. Medius Holdings Co., Ltd. will use funds in hand for the transaction.

Medius Holdings Co., Ltd. will operate Akita Ika Kikaiten, K.K. as wholly owned subsidiary upon completion of the 2 transactions. For the year ended March 2012, Akita Ika Kikaiten had net assets of ¥346 million, total assets of ¥1.43 billion, sales of ¥3.77 billion, operating profit of ¥36 million, current profit of ¥45 million, and net income of ¥31 million. Board of Directors of Medius Holdings resolved the acquisition on March 21, 2013. The transaction is expected to close on July 1, 2013. TY Consulting Co., Ltd. acted as appraiser for Medius Holdings.

Medius Holdings Co., Ltd. (JASDAQ:3154) cancelled the acquisition of 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders on March 21, 2014.