Natoco Co., Ltd. (JASDAQ:4627) entered into a share exchange contract to acquire Tomoe Corporation from Tadaharu Kasuya and Taki Kasuya for approximately ¥1 billion in stock on September 27, 2013. Natoco will issue 683 shares of its common stock for each share of Tomoe Corporation. Pursuant to the transaction, Tomoe Corporation will operate as a wholly-owned subsidiary of Natoco. Tomoe Corporation reported net assets of ¥937 million, total assets of ¥1.34 billion, net sales of ¥2.43 billion, operating income of ¥265 million and net income of ¥153 million for the year ended October 31, 2012.

The transaction is subject to approval by the shareholders of Tomoe at a meeting scheduled on October 8, 2013 and the Boards of Directors of Natoco and Tomoe have resolved to undertake the transaction. The transaction is expected to close on November 1, 2013. Miyake Accounting Firm acted as valuer for Natoco.