ASJ Inc. signed the share transfer contract to acquire 85.7% stake in Ntt Data Itecs Corporation from NTT Data Corporation for approximately ¥750 million.

ASJ Inc. (TSE:2351) signed the share transfer contract to acquire 85.7% stake in NTT Data Itecs Corporation from NTT Data Corporation (TSE:9613) for approximately ¥750 million in cash on January 21, 2016. ASJ will acquire 0.02 million shares of Ntt Data Itecs. ASJ will take ¥800 million loan for the acquisition.

As a result of the transaction, NTT Data Itecs will become a subsidiary of ASJ. NTT Data Itecs Corporation reported net assets of ¥562 million, total assets of ¥1.04 billion, sales of ¥1.14 billion, operating income of ¥30 million and net income of ¥16 million as of March 2015. The deal is expected to close on February 29, 2016.

ASJ will pay ¥10 million as advisory cost.