CrowdWorks Inc. (TSE:3900) signed a contract to acquire CODEAL Corporation from Shota Atago and Takumi LLC on September 27, 2021. As per terms of transaction, Shota Atago and Takumi LLC will sell 58.8% stake and 39.6% stake respectively. CrowdWorks Inc. will acquire 0.123 million shares representing 100% stake.

As on March 31, 2021, CODEAL Corporation reported net assets of ¥55 million, total assets of ¥96 million, operating income of ¥4 million, Net income of ¥7 million and common equity of ¥45 million. Transaction is expected to complete on October 1, 2021. The acquisition of the shares will not affect the business results for the fiscal year ending September 2021.