Okamoto Industries, Inc. (TSE:5122) agreed to acquire additional 11.03% stake in Riken Corundum Company Limited (TSE:5395) from Hulic Co., Ltd. (TSE:3003), Mizuho Bank, Ltd. and Mizuho Trust & Banking Co., Ltd. on May 14, 2015. Under the terms of the deal, Okamoto Industries will acquire additional 1.01 million shares of Riken Corundum Company. After the transaction, Okamoto Industries will hold 2.15 million shares of Riken Corundum Company.

The expected date of purchase is May 15, 2015.