Daiken Corp. (TSE:7905) signed a contract to acquire 51% stake in C&H K.K. from Hokushin Co., Ltd. (TSE:7897) for ¥51 million on March 26, 2012. Daiken will acquire 1020 shares of C&H. In a related transaction, Daiken Corp. (TSE:7905) signed a business and capital alliance agreement to acquire 15% stake in Hokushin Co., Ltd. (TSE:7897) on March 26, 2012. For the period ending March 2011, C&H reported net assets of ¥113.32 million, total assets of ¥1.22 billion, sales of ¥8.02 billion, operating loss of ¥13.57 million, current loss of ¥12.42 million, and net income of ¥9.09 million. The transaction was resolved by the Board of Directors of Hokushin on March 26, 2012. The transaction is subject to the completion of the Fair Trade Commission's review of business combination. The transaction is expected to complete in mid-May 2012. The transaction will have no impact on the profit and loss of Hokushin for the period ending March 2012. As on June 28, 2012, the expected date of completion is undetermined. As of january 28, 2013, the transaction is expected to close on january 31, 2013.

Daiken Corp. (TSE:7905) completed the acquisition of 51% stake in C&H K.K. from Hokushin Co., Ltd. (TSE:7897) on January 31, 2013.