Tv Asahi Corporation signed business and capital alliance agreement to acquire 10% stake in Ray Corporation (JASDAQ:4317) from HW Project K.K. and Shiro Wakebe on December 1, 2017, Under the transaction, Tv Asahi Corporation will acquire 1.4 million shares. Post transfer, Tv Asahi Corporation will own 2.9 millions shares representing 20% stake for approximately ¥980 million. The transaction is expected to be completed on December 19, 2017.