Starts Corporation, Inc. entered into share exchange contract to acquire remaining 41.61% stake in Starts Securities Co., Ltd. for ¥1.1 billion.
Board of Directors of Starts Corporation and Starts Securities 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 Article 796 Paragraph 3 of Japan's Companies Act. The expected date for extraordinary shareholders meeting of Starts Securities Co., Ltd. is February 18, 2014. The transaction is expected to close on April 1, 2014.