AOI Pro.Inc. (TSE:9607) enter into a basic agreement to acquire TYO Inc. (TSE:4358) for ¥12.3 billion from Fields Corporation (TSE:2767), Memory-Tech Corporation and others on July 11, 2016. Under the terms of transaction AOI Pro. Inc. will issue 0.18 new share for each TYO Inc. share. As on July 29, 2016, AOI Pro. Inc. entered into an agreement to acquire TYO Inc. Upon completion, TYO Inc. will be wholly owned by AOI Pro. The transaction is subject to approval of Board of TYO Inc. and AOI Pro Inc., shareholders of TYO Inc. and AOI Pro. Inc. and and the relevant authorities. The Board of directors meeting to approve the transaction will be held on July 29, 2016, and extraordinary shareholders meeting to approve the transaction will be held on July 31, 2016 and September 27, 2016. TYO Inc. will be delisted on December 28, 2016. The transaction is expected to be completed by January 4, 2017. Mizuho Securities Co., Ltd acted third party appraiser, Mizuho Securities acted as financial advisor and TMI Associates acted as legal advisor for TYO Inc., KPMG acted as financial advisor and KPMG FAS Co., Ltd. acted as third party appraiser and Nishimura & Asahi as the legal advisor in the transaction.

AOI Pro.Inc. (TSE:9607) completed the acquisition of TYO Inc. from Fields Corporation (TSE:2767), Memory-Tech Corporation and others on January 4, 2017.