PKSHA Technology Inc. (TSE:3993) entered into an agreement to acquire PKSHA Associates Inc. from Koji Numahata and others for ¥5 billion on May 13, 2021. Under the terms, PKSHA will acquire 94,293 PKSHA Associates shares for ¥4.5 billion as on May 31, 2021 and the acquisition of remaining 10,477 PKSHA Associates shares is scheduled for May 31, 2023. The unit price of remaining 10,477 PKSHA Associates shares is designed to be linked to the performance of Asirirera after the acquisition. The total consideration of ¥5 billion is the total of the first and second acquisition consideration when the second stock acquisition unit price is determined at the lower limit. PKSHA Associates reported net assets of ¥1 billion, total assets of ¥1.4 billion, sales of ¥898 million, operating income of ¥562 million, ordinary income of ¥565 million and net income of ¥170 million for the financial year ended February 2021. Board of Directors of PKSHA Technology resolved this transaction on May 13, 2021. The transaction is expected to close on May 31, 2023.

PKSHA Technology Inc. (TSE:3993) completed the acquisition of PKSHA Associates Inc. from Koji Numahata and others on May 31, 2021. The second tranche of remaining 10% stake for ¥1.2 billion has been completed on May 31, 2023.