Aplix Corporation (TSE:3727) entered into an agreement to acquire Smart Mobile Communications Ltd from Hikari Tsushin, Inc. (TSE:9435) and others for ¥0.03 million on July 24, 2019. Under the agreement, Aplix Corporation will issue one share for 143 shares of Smart Mobile Communications Ltd. Aplix Corporation will issue 3.27 million shares. Post completion, Smart Mobile Communications Ltd will become wholly owned subsidiary of Aplix Corporation. For the period ended March 31, 2019 Smart Mobile Communications Ltd has reported total assets of ¥1.38 billion, net worth of ¥77.89 million, sales of ¥5.61 billion, operating income of ¥56.49 million and net income of ¥65.89 million.


The Board of Directors of Aplix Corporation and Smart Mobile Communications Ltd has passed the resolution regarding the transaction. The transaction is subject to approval from shareholders of Smart Mobile Communications Ltd in general meeting to be held on July 25, 2019 but approval from the shareholders of Aplix Corporation is not required. Completion is expected to take place on August 15, 2019.


Aplix Corporation (TSE:3727) completed the acquisition of Smart Mobile Communications Ltd from Hikari Tsushin, Inc. (TSE:9435) and others on August 15, 2019.