Fune Kan Short Course Co., Ltd. agreed to acquire a 61.78% stake in Izu Skyline Country Co., Ltd. from Econach Holdings Co.,Ltd. (TSE:3521) for approximately ¥310 million in cash on July 21, 2015. Fune Kan Short Course Co., Ltd. will acquire 0.47 million shares. During the year ended March 2015, Izu Skyline Country Co., Ltd. had net assets of ¥500.72 million, total assets of ¥870.39 million, sales of ¥291.61 million, operating loss of ¥7.04 million, and net loss of ¥45.63 million. Board of Directors of Econach Holdings Co.,Ltd. made a resolution in favor of the transaction on July 21, 2015. The tentative contract conclusion date is August 1, 2015 and the tentative share transfer date is August 3, 2015. Fune Kan Short Course Co., Ltd. cancelled the acquisition of a 61.78% stake in Izu Skyline Country Co., Ltd. from Econach Holdings Co.,Ltd. (TSE:3521) on July 21, 2016.