C.I. Medical Co.,Ltd. (TSE:3540) signed sale and purchase agreement to acquire Nissen Holdings Co., Ltd. from Seven & i Net Media Co., Ltd. for ¥4.1 billion on May 9, 2024. The consideration consists of ¥4.1 billion in cash for 63.6 million shares of Nissen. As part of the consideration, ¥4.1 billion was paid towards common equity.

As of FY 2023, Nissen reported net assets of -¥23.7 billion, total assets of ¥20.8 billion, net sales of ¥40 billion, operating income of ¥210 million, and net income of ¥110 million. Nissen will conduct a third-party allotment of new shares, with Seven & i Net Media fully subscribing to the entire amount by the day before the execution date of the Transfer, (the ?Capital Increase?), which is expected to make Nissen achieve the full repayment of intra-group loan and the resolution of the debt excess. The deal has been approved by board of directors of Seven & i Holdings Co., Ltd. The deal is expected to be completed on July 1, 2024.