Appirits Inc. cancelled the acquisition of moonrabbit LLC from Jian-wen Chen.
October 13, 2021
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Appirits Inc. (JASDAQ:4174) agreed to acquire moonrabbit LLC from Jian-wen Chen on September 14, 2021. For the fiscal year ending February 2021, moonrabbit reported net assets of ¥34 million, total assets of ¥76 million, sales of ¥157 million, and net income of ¥29 million. The contract is expected to be signed on September 30, 2021 and the transfer of equity interests is expected on October 1, 2021. As of September 30, 2021, Appirits Inc. has been preparing for the conclusion of the equity transfer agreement, but it will take some time to agree on the detailed conditions for the agreement, so the date of the equity transfer agreement and the transfer of equity interest is postponed. Appirits Inc. will notify once the planned conclusion date of the new equity transfer agreement and the scheduled date of transfer of equity interest are confirmed.
Appirits Inc. (JASDAQ:4174) cancelled the acquisition of moonrabbit LLC from Jian-wen Chen on October 14, 2021. As of October 14, 2021, Appirits has cancelled the basic agreement to acquire moonrabbit and making it a subsidiary. Appirits carried out due diligence and prepared for the conclusion of an equity interest transfer agreement. Appirits determined that it is rational to cancel the basic agreement and stop making Moon Rabbit a subsidiary, without reaching an equity interest transfer agreement.
Appirits Inc is a Japan-based company mainly engaged in the Web solution business and the online game business. The Company operates in two business segments. The Web Solution segment is engaged in the planning, design, contract development, operation and maintenance of Web systems such as business portal sites and electronic commerce (EC) sites, the provision of various peripheral services such as Web marketing support services, application service provider (ASP) services for EC sites, and security diagnostic services, as well as the temporary staffing business. The Online Game segment is engaged in the development and operation of in-house developed online games for domestic and overseas markets, the contract development, operation and maintenance of online games for other companies, as well as the temporary staffing business for planners and engineers.