Impress Holdings, Inc. agreed to acquire Ikaros Publications Ltd. from Tomotake Ichi and Shigeyo Shioya for ¥1.3 billion.
July 27, 2021
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Impress Holdings, Inc. (TSE:9479) agreed to acquire Ikaros Publications Ltd. from Tomotake Ichi and Shigeyo Shioya for ¥1.3 billion on July 27, 2021. As per terms of transaction, Impress Holdings, Inc. will acquire 0.032 million shares. Tomotake Ichi and Shigeyo Shioya hold 30% stake and 25.6% stake respectively. Post completion, Ikaros Publications Ltd. will operate as a wholly owned subsidiary of Impress Holdings, Inc. As on June 30, 2020, Ikaros Publications Ltd. reported net assets of ¥1.34 billion, total assets of ¥1.718 billion, sales of ¥1.327 billion, net income of ¥-55 million and operating income of ¥-70 million. Transaction is expected to complete on August 2, 2021. The impact of this matter on the Impress Holdings, Inc. consolidated financial results for the current fiscal year is currently under scrutiny.
Impress Holdings Inc is a Japan-based company engaged in electronic publishing and internet media services. It has six segments. Information Technology (IT) segment provides electronic publishing, internet media services, sales promotion/public relations (SP/PR) tools and websites and distribution platforms. Music segment provides electronic publishing, internet media services, SP/PR tools and websites and electronic commerce (EC) platforms and publication distribution platforms. Design segment provides electronic publishing and internet media services. Mountains and Nature segment provides electronic publishing, internet media services, SP/PR tools and websites and accommodation services. Aviation/Railway segment provides electronic publishing, internet media services and part-time work. Mobile Services segment provides electronic publishing, internet media services, electronic book files and electronic comic platforms. It also has publishing logistics and sales management business.