e License Inc. agreed to acquire Japan Rights Clearance Inc. from Faith Inc. (TSE:4295), Jet Rubber Company Inc. and avex music publishing inc. on December 17, 2015. Under the terms of the transaction, e License Inc. will issue 0.5 share for one share of Japan Rights Clearance Inc. e-License to change its name to NexTone, Inc. on February 1, 2016. The closing of the transaction is subject to approval by shareholders of e License Inc. and Japan Rights Clearance Inc. and is expected to close on February 1, 2016.

e License Inc. completed the acquisition of Japan Rights Clearance Inc. from Faith Inc. (TSE:4295), Jet Rubber Company Inc. and avex music publishing inc. on February 1, 2016.