BRIDGE International Corp. signed a contract to acquire I-Learning Co.,Ltd. from JBCC Holdings Inc. for approximately ¥120 million.

BRIDGE International Corp. (TSE:7039) signed a contract to acquire I-Learning Co.,Ltd. from JBCC Holdings Inc. (TSE:9889) for approximately ¥120 million on February 25, 2021. As per terms of transaction, BRIDGE International Corp.

will acquire 420 shares of I-Learning Co.,Ltd. Post completion, i-Learning will be excluded from the scope of consolidation of the JBCC Holdings Inc. For the fiscal year ending March 2020, I-Learning Co.,Ltd reported net assets of ¥145 million, total assets of ¥611 million, sales of ¥1822 million, operating income of ¥-200 million and net income of ¥-212 million. Resolution of the Board of Directors February 25, 2021. Transaction is expected to complete on March 31, 2021.

The impact on the consolidated financial results of the JBCC Holdings Inc. for the current fiscal year is minor.