Wellco Holdings Co.,Ltd (TSE:7831) entered into contract to acquire L-Net Co., Ltd. from OG Capital Co., Ltd. for approximately ¥600 million on April 25, 2014. Wellco Holdings will acquire 200 shares of L-Net Co., Ltd. Wellco Holdings will make L-Net Co., Ltd. as its wholly owned subsidiary. Board of Directors of Wellco Holdings made a resolution in favor of the transaction on April 25, 2014.

The transaction is expected to close on June 2, 2014. The advisory expenses of the transaction are ¥12 million.