ITbook Co., LTD. (TSE:3742) concluded a contract to acquire i-need Co., Ltd. from Kenta Fukui and others for approximately ¥450 million on November 25, 2015. ITbook Co., LTD. will acquire 890 shares of i-need Co., Ltd. ITbook Co., LTD. will finance the purchase price through borrowings. On completion, i-need Co., Ltd. will become a wholly owned subsidiary of ITbook Co., LTD. i-need Co., Ltd. reported total assets of ¥492.22 million, net assets of ¥192.53 million, sales of ¥1.8 billion, operating profit of ¥18.37 million and net income of ¥16.07 million for the year ended March 2015. The transaction was resolved by the Board of ITbook Co., LTD. The transaction is expected to complete on December 10, 2015. ITbook Holdings Co., Ltd. (TSE:1447) cancelled the acquisition of i-need Co., Ltd. from Kenta Fukui and others on November 25, 2016.