New Horizon Fund 2, a fund of New Horizon Capital Co., Ltd. agreed to acquire 66.67% stake in Mag2 Co., Ltd. for approximately ¥1 billion on March 18, 2014. As reported, New Horizon will acquire existing shares of Mag2 along with subscribing to the capital increase by 3rd party allocation to be carried out by Mag2 Co. The transaction will result in NHC acquiring 2/3 of the voting rights of Mag2.

NHC will send external Directors to Mag2 and will also acquire the business rights of Mag2. The transaction is expected to close on March 24, 2014.