Emi Koharazawa representative Director and President of BxE, Inc. cancelled the acquisition of an additional 68.9% stake in B×E Inc. from Zappallas, Inc..
May 01, 2016
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Emi Koharazawa representative Director and President of BxE, Inc. signed a contract to acquire an additional 68.9% stake in B×E Inc. from Zappallas, Inc. (TSE:3770) for ¥68.9 million on May 1, 2015. Emi Koharazawa will acquire 9,000 shares at ¥7657 per share. Emi Koharazawa currently owns 19.4% stake in BxE and its stake will increase to 88.3% after closing of the transaction. Board of Directors of Zappallas, Inc. made a resolution in favor of the transaction on May 1, 2015. The expected share transfer date May 8, 2015. It is expected that the tax effects of this share transfer will increase net income for the year ended April 30, 2015, however the forecast results for the year, including a range of other factors, are currently under investigation.
Emi Koharazawa representative Director and President of BxE, Inc. cancelled the acquisition of an additional 68.9% stake in B×E Inc. from Zappallas, Inc. (TSE:3770) on May 1, 2016.
ZAPPALLAS, INC. is a Japan-based company mainly engaged in the provision of content services. The Company has two business segments. The Mobile Services segment is engaged in the planning, production, development and operation of divination and other digital content through mobile devices, the provision of telephone divination and divination related services, and other mobile-related services, as well as the operation of media sites. The Overseas segment is engaged in the operation of divination sites in the United States, as well as the sale of advertisings and content to users. The Company is also engaged in the application service provider (ASP) business for corporates, the planning of virtual reality (VR) content, the operation of online shopping sites, as well as the travel business.
Emi Koharazawa representative Director and President of BxE, Inc. cancelled the acquisition of an additional 68.9% stake in B×E Inc. from Zappallas, Inc..
ZAPPALLAS, INC. 
