Starts Corporation, Inc. (JASDAQ:8850) entered into share exchange contract to acquire remaining 38.75% stake in Starts Amenity Co., Ltd. for ¥3.5 billion in stock on January 9, 2014. Starts Corporation, Inc. will issue 1,031 shares for each share of Starts Amenity Co., Ltd. In related transactions, Starts Corporation, Inc. will acquire remaining shares in Starts Securities Co., Ltd. and Weave Corporation. Starts Corporation, Inc. will operate Starts Amenity Co., Ltd. as its wholly owned subsidiary. During the period ended March 2013, Starts Amenity Co., Ltd. had net assets of ¥13.58 billion, total assets of ¥35.04 billion, sales of ¥42.64 billion, operating profit of ¥3.54 billion, ordinary profit of ¥3.47 billion, and net income of ¥2.08 billion.

Board of Directors of Starts Corporation and Starts Amenity Co., Ltd. made a resolution in favor of the transaction on January 9, 2014. Starts Corporation, Inc. plans to carry out the share exchange without obtaining approval from our shareholders, following the simple share exchange process in accordance with the regulations of Japan's Companies Act. The transaction is subject to approval from the shareholders of Starts Amenity Co., Ltd. The transaction is expected to close on April 1, 2014.

Starts Corporation, Inc. (JASDAQ:8850) completed the acquisition of remaining 38.75% stake in Starts Amenity Co., Ltd. on April 1, 2014.