TOKAI Holdings Corporation (TSE:3167) concluded a contract to acquire remaining 9.17% stake in Tokai Zosen Unyu Co., Ltd for ¥85.3 million on January 29, 2016. TOKAI Holdings Corporation will issue 4.17 share for each share of Tokai Zosen Unyu Co., Ltd. TOKAI Holdings already owns 0.36 million shares of Tokai Zosen Unyu Co., Ltd. After the transaction, Tokai Zosen Unyu Co., Ltd will operate as a wholly owned subsidiary of TOKAI Holdings Corporation. Tokai Zosen Unyu Co., Ltd reported net assets of ¥906 million, total assets of ¥3.67 billion, sales of ¥3.33 billion, operating profit of ¥69 million, current profit of ¥119 million and net income attributed to the parent company of ¥59 million for the year ending March 2015. The Board of TOKAI Holdings Corporation passed a resolution for the transaction on January 29, 2016. The transaction is expected to complete on March 4, 2016. Benedi Consulting Co., Ltd calculated the exchange ratio. TOKAI Holdings Corporation (TSE:3167) cancelled the acquisition of remaining 9.17% stake in Tokai Zosen Unyu Co., Ltd on January 29, 2017.