Hakuten Co., Ltd. (JASDAQ:2173) signed a contract to acquire remaining 28% stake in Sprasia, Inc. from Shunsuke Uchigasaki and others in stock on June 7, 2016. Under the terms of the deal, Hakuten Co., Ltd. will allot 35 common shares for every common share of Sprasia and 0.11 million shares of Hakuten Co., Ltd. will be allotted. The transaction was resolved by the Board of Directors of Hakuten Co., Ltd. on June 7, 2016. The tentative effective date of the share exchange is June 30, 2016. On June 21, 2016 the shareholders of Sprasia, Inc. approved the transaction.