OPEN Group, Inc. (TSE:6572) signed a letter of intent to acquire AUTORO Inc. from a group of shareholders for ¥600 million on June 21, 2024. A cash consideration will be paid by OPEN Group, Inc. As part of consideration, an undisclosed value is paid towards common equity of AUTORO Inc. For the period ending October 31, 2023, AUTORO Inc. reported total revenue of ¥269.33 million, operating loss of ¥126.85 million and net loss of ¥126.39 million. As of October 31, 2023, AUTORO Inc. reported total assets of ¥167.62 million and net liabilities of ¥29.74 million.

The expected completion of the transaction is June 28, 2024.