PHYZ inc. (TSE:9325) agreed to acquire 51% stake in Dragon Holdings Co., Ltd. for approximately ¥610 million on July 8, 2019. The transaction also includes the acquisition of Dragon Holdings Co., Ltd.'s wholly owned subsidiary Dragon K.K. Post completion of the transaction, PHYZ inc. will own 10200 shares representing 51% of the voting rights. Post completion, Dragon Holdings Co., Ltd. and Dragon K.K. will be consolidated into PHYZ inc.'s subsidiaries. For the year ending March 2019, Dragon Holdings Co., Ltd. reported net assets of ¥965 million, total assets of ¥2.044 billion, sales of ¥2.123 billion, operating profit of ¥19 million and net loss of ¥54 million. The contract conclusion date is expected to be August 9, 2019 and the share transfer date is expected to be October 9, 2019. PHYZ inc. will pay advisory expenses of ¥11 million.