Synclayer Inc. (JASDAQ:1724) agreed to acquire Okuda Denki Kogyo K.K. from Hiroaki Okuda and three other individuals for ¥28 million on September 9, 2014. Under the terms of the agreement, Synclayer Inc. will acquire 0.04 million shares of Okuda Denki Kogyo K.K. For the year ended April 30, 2014, Okuda Denki Kogyo had net assets of ¥116 million, total assets of ¥371 million, sales of ¥654 million, operating profit of ¥310 million and net income of ¥60 million. Masahiro Yamaguchi will be Director and President for part time, Shoichi Sakano will be Managing Director, Takeshi Murayama and Tokutoshi Oka will be part time Director and Satoshi Kunie will be part time Auditor. The transaction is expected to close on October 1, 2014. The advisory fee is ¥25 million. As of October 28, 2014, the advisory fee has been revised to ¥10 million.

Synclayer Inc. (JASDAQ:1724) completed the acquisition of Okuda Denki Kogyo K.K. from Hiroaki Okuda and three other individuals in October, 2014.