Medius Holdings Co., Ltd. (JASDAQ:3154) entered into share exchange to acquire 19.75% stake in Akita Ika Kikaiten, K.K. for approximately ¥140 million in stock on March 21, 2013. Medius Holdings Co., Ltd. will issue 72 treasury shares for each share of Akita Ika Kikaiten. Medius Holdings Co., Ltd. will acquire 790 shares of Akita Ika Kikaiten and will issue 0.06 million shares as consideration. In a related transaction, Medius Holdings Co., Ltd. will acquire 80.25% stake in Akita Ika Kikaiten, K.K. from Michitoshi Sato, Shunsuke Sato, and six individual shareholders.

Medius Holdings Co., Ltd. will operate Akita Ika Kikaiten, K.K. as wholly owned subsidiary after completion of both the transaction. 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 tentative date for approval of the share exchange by the shareholding commission of Akita Ika is May 23, 2013. As of July 1, 2013, Medius Holdings allocated consideration shares to shareholders of Akita Ika Kikaiten. The transaction is expected to close on July 2, 2013. TY Consulting Co., Ltd. acted as appraiser for Medius Holdings.