KDDI Corporation (TSE:9433) signed a contract to acquire 8.5% stake in Datasection Inc. (TSE:3905) from Hiroshi Sawa for approximately ¥640 million on July 10, 2018. KDDI Corporation will acquire 1 million shares of Datasection at ¥641 per share. In related transactions, KDDI Corporation will acquire 1.1 million shares from Shunsuke Ikegami and Hiroya Hashimoto.

At present, Hiroshi Sawa owns 10.99% stake in Datasection. Post completion of both the transactions, KDDI Corporation will own 17.78% stake in Datasection Inc. and Hiroshi Sawa will own 2.48% stake in Datasection. The transaction is resolved by the board of Datasection.

The transaction is expected to complete on july 13, 2018.