ADTEC Corporation (JASDAQ:6840) agreed to acquire Team Entertainment Inc. from Shin Kitahara for approximately ¥250 million on November 28, 2013. ADTEC will acquire 208 shares of Team Entertainment. Team Entertainment reported net assets of ¥58 million, total assets of ¥184 million, sales of ¥582 million, operating profit of ¥36 million and net income of ¥24 million for the year ended June 30, 2013. An agreement for the transaction has been signed on December 26, 2013. The transaction is expected to close on December 26, 2013.

ADTEC Corporation (JASDAQ:6840) completed the acquisition of Team Entertainment Inc. from Shin Kitahara on December 26, 2013.