Hakuten Co., Ltd. (JASDAQ:2173) signed a share transfer contract to acquire 89.5% stake in Sprasia, Inc. from Shunsuke Uchigasaki for approximately ¥490 million on May 30, 2016. Hakuten will acquire 0.03 million shares of Sprasia. Sprasia will become a subsidiary of Hakuten. Sprasia reported net assets of ¥112 million, total assets of ¥175 million, sales of ¥78 million, operating profit of ¥10 million and net income of ¥11 million as of July 2015. The deal was approved by the Board of Directors of Hakuten on May 30, 2016. The transaction is expected to complete by June 17, 2016. Hakuten will spend ¥40 million as advisory costs.