Yujiro Uno, President of SAN-EKI UEX, Ltd., signed a contract to acquire SAN-EKI UEX, Ltd. from UEX Corp. (TSX:UEX) for ¥40 million on January 24, 2014. UEX Corp.

is selling 7330 shares of SAN-EKI UEX representing 100% stake. For the period ending March 2013, SAN-EKI UEX reported total assets of ¥190 million, net assets of ¥112 million, sales of ¥265 million, operating loss of ¥11 million and net loss of ¥13 million. The transaction was resolved by the Board of Directors of UEX Corp and is expected to close after January 31, 2014.