I-Freek Mobile Inc. (JASDAQ:3845) signed a share exchange agreement to acquire Realtime Media Co., Ltd. and Realization Co., Ltd. from a group of shareholders on December 9, 2019. I-Freek Mobile Inc. will issue shares in the ratio of 1:2831.54 to Realtime Media Co., Ltd. and at ratio of 1:538.67 to Realization Co., Ltd. Realtime Media Co., Ltd. has total of 200 shares and Realization Co., Ltd. has total 1000 shares outstanding. Realtime Media Co., Ltd. holds 20% in Realization Co., Ltd. Post completion, both will operate as subsidiaries. For the year ended February 29, 2019, Realtime Media Co., Ltd. reported net assets of ¥80 million, total assets of ¥224.6 million, sales of ¥382.4 million and operating loss of ¥12.2 million while Realization Co., Ltd. for the year ended August 31, 2019, reported net assets of ¥42.4 million, total assets of ¥164.4 million, sales of ¥481.6 million and operating loss of ¥13.1 million. The Board of Directors of I-Freek Mobile Inc. resolved the transaction and shareholders of Realtime Media Co., Ltd. and Realization Co., Ltd. approved the transaction on December 9, 2019. Approval from shareholders of I-Freek Mobile Inc. is not required. The agreement is expected to close on January 1, 2020. Tokyo Financial Advisers acted as valuation advisors.