Ekitan & Co., Ltd. signed a contract to acquire 78.25% stake in Business Travel Japan, Inc. from Toshiba Digital Solutions Corporation for ¥70 million.
October 12, 2017
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Ekitan & Co., Ltd. (TSE:3646) signed a contract to acquire 78.25% stake in Business Travel Japan, Inc. from Toshiba Digital Solutions Corporation for ¥70 million on October 13, 2017. Apart from deal value of ¥70 million to be paid for 0.01 million shares of Business Travel Japan, Ekitan will also pay due diligence expenses of ¥2 million. Post completion, Business Travel Japan will operate as a subsidiary of Ekitan. For the year ending March 2017, Business Travel Japan reported net assets of ¥75.3 million, total assets of approximately ¥144 million, sales of ¥221.4 million, operating profit of ¥38.3 million and net profit of ¥21.8 million. The Board of Directors of Ekitan passed a resolution for the deal on October 13, 2017. The tentative share transfer date is November 13, 2017.
Ekitan & Co.,Ltd. is a Japan-based company providing information contents services. The Company operates in two business segments. The Consumer business develops a transit guide service Station Search Transit Information for individuals through mobile phones including smart phones. The Business for Corporate Users provides transit guidance services provided by the Company as application service provider (ASP) service for corporations such as mobile carriers, railroad companies and map companies.
Ekitan & Co., Ltd. signed a contract to acquire 78.25% stake in Business Travel Japan, Inc. from Toshiba Digital Solutions Corporation for ¥70 million.