Nippon Ski Resort Development Co., Ltd. (TSE:6040) agreed to acquire Geekout Inc. from NIPPON PARKING DEVELOPMENT Co., Ltd. (TSE:2353) for ¥43 million on July 20, 2017. A contract is expected to be signed on August 1, 2017. Nippon Ski Resort Development will acquire 880 shares of Geekout.

On completion, Geekout will become a subsidiary of Nippon Ski Resort Development. Geekout reported net assets of ¥36 million, total assets of ¥61 million and sales of ¥173 million during the period ended July 2016. The deal is expected to close on August 1, 2017.

Kitajima Tax Accountant Office acted as valuer for Nippon Ski Resort Development.