Kojima Industries Corporation agreed to acquire 34.4% stake in PT. Echo Advanced Technology Indonesia from Kodama Chemical Industry Co.,Ltd. (TSE:4222) for IDR 2500 on November 2, 2016. Under the terms, 2500 shares are acquired at IDR 1 per share. For the year ended December 31, 2015, net liabilities of IDR 50.3 million, sales of IDR122.8 million, operating loss of IDR 29.3 million and net loss of IDR 50.4 million. A corporate resolution for the transaction is passed on November 2, 2016. A contract is expected to be concluded by November 4, 2016 and closing of the deal is expected by November 25, 2016. Kojima Industries Corporation cancelled the acquisition of 34.4% stake in PT. Echo Advanced Technology Indonesia from Kodama Chemical Industry Co.,Ltd. (TSE:4222) on November 2, 2017.