IC Corporation agreed to acquire FT Communications Co., Ltd. from FTGroup Co., Ltd. (JASDAQ:2763) on February 18, 2022. Upon completion, FT Communications Co. will cease to be a subsidiary of FTGroup Co.

The net assets, total assets, sales, ordinary profit and net profit of FT Communications Co., for fiscal year ending March 2021, were ¥2,647 million, ¥5,609 million, ¥10,383 million, ¥2,483 million and ¥1,690 million, respectively. The transaction is expected to be executed on February 28, 2022.