Softfront (JASDAQ:2321) concluded a basic agreement to acquire Fudemame Co.,Ltd. from ACA FPJ STRATEGIC INVESTMENT FUND LP, Yoichi Tsuchiya and two individuals for ¥680 million on March 7, 2016. Under the terms of the agreement 0.02 million shares will be acquired. ACA FPJ STRATEGIC INVESTMENT FUND LP will sell 70.72% stake, Yoichi Tsuchiya will sell 22.07% stake and two other individuals will sell 7.21% stake. A contract is expected to be concluded on April 22, 2016. After the transaction, Fudemame Co.,Ltd will operate as a subsidiary of Softfront. Fudemame Co.,Ltd. reported net assets of ¥245 million, total assets of ¥751 million, sales of ¥1.21 billion, operating profit of ¥68 million, current profit of ¥66 million and net income attributed to the parent company shareholders of ¥40 million. A corporate resolution concerning the basic agreement was passed on March 7, 2016. A corporate resolution concerning the share transfer contract will be passed on April 22, 2016. A transfer contract was signed on April 22, 2016. The deal is expected to close on April 26, 2016. The advisory costs are estimated to be ¥40 million.

Softfront (JASDAQ:2321) completed the acquisition of Fudemame Co.,Ltd. from ACA FPJ STRATEGIC INVESTMENT FUND LP, Yoichi Tsuchiya and two individuals on April 22, 2016.