Internetworking and Broadband Consulting Co.,Ltd. cancelled the acquisition of SundayArts K.K. Co., Ltd. from Yosuke Seno.
February 31, 2020
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Internetworking and Broadband Consulting Co.,Ltd. (TSE:3920) concluded a share exchange agreement to acquire SundayArts K.K. Co., Ltd. from Yosuke Seno for approximately KRW 850 million on February 1, 2019. Share exchange ratio pertaining to the share exchange contract is 1:410.51. Internetworking and Broadband will issue 0.08 million shares. Post transfer, Sunday Arts K. K. Co., Ltd. a wholly-owned subsidiary of Internetworking and Broadband Consulting Co.,Ltd. During the year ended August 31, 2018, SundayArts K.K. Co., Ltd. reported net assets of KRW 26.8 million, total assets of KRW 102.4 million, sales of KRW 154.2 million, operating income of KRW 25.6 million and net income of KRW 16.9 million. Extraordinary meeting of shareholders of SundayArts K.K. Co., Ltd. is scheduled on March 18, 2019. The transaction has been resolved by the Board of Internetworking and Broadband Consulting Co.,Ltd. The transaction is expected to be completed on April 1, 2019.
Internetworking and Broadband Consulting Co.,Ltd. (TSE:3920) cancelled the acquisition of SundayArts K.K. Co., Ltd. from Yosuke Seno on February 1, 2020.
Internetworking and Broadband Consulting Co.,Ltd. is a Japan-based company principally engaged in the network system monitoring related business. The Company is engaged in the provision of development, sale, support and consulting services for System Answer Series, a network system information management and performance monitoring tool that monitors the operational status of information and communication networks and predictive failures. The license sales business is engaged in the sale of licenses for the System Answer Series products. The services provision business is engaged in the provision of network consulting services, network design, migration and construction services, operational consulting services, as well as various technical support services. The other product sales business is engaged in the sale of various system equipment and software associated with products and solution services to solve customer problems.
INTERNETWORKING AND BROADBAND CONSULTING CO.,LTD. 
