EduLab, Inc. cancelled the acquisition of remaining 87.01% stake in Educational Digital Solutions, Inc. from Obunsha Co., Ltd., Eiken Foundation of Japan, Teruyuki Honda, Tomoyuki Okamoto and Satoshi Ajizaka .
February 19, 2021
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EduLab, Inc. (TSE:4427) signed a stock exchange agreement to acquire the remaining 87.01% stake in Educational Digital Solutions, Inc. from Obunsha Co., Ltd., Eiken Foundation of Japan, Teruyuki Honda, Tomoyuki Okamoto and Satoshi Ajizaka for approximately ¥580 million on February 20, 2020. Under the terms of the transaction, 1 share of Education Digital Solutions will be allocated for 211 shares of EduLab. EduLab will issue its 0.14 million shares of common stock as consideration. The share exchange ratio is subject to change after consultation and agreement between the two companies. Upon completion, Educational Digital Solutions will become a wholly owned subsidiary of EduLab.
Educational Digital Solutions had total assets of ¥1.1 billion, net assets of ¥211 million, sales of ¥1.7 billion, operating income of ¥7 million and net income of ¥3 million for the year ended March 31, 2019. The extraordinary general meeting of shareholders of EduLab to approve the transaction will be held on March 19, 2020. Transaction was resolved by the Board of EduLab. Transaction is expected to close on April 1, 2020.
EduLab, Inc. (TSE:4427) cancelled the acquisition of remaining 87.01% stake in Educational Digital Solutions, Inc. from Obunsha Co., Ltd., Eiken Foundation of Japan, Teruyuki Honda, Tomoyuki Okamoto and Satoshi Ajizaka on February 20, 2021.
EduLab Inc is a Japan-based company mainly engaged in the provision of testing development, implementation, analysis, educational services for English and other tests. The Company operates through five segments. The Testing and Other Licensing segment provides testing services and learning services centered on languages to educational institutions, private companies, and individuals. The Educational Platform segment provides and operates learning services such as Stagia Eiken, Stagia Kanken, and Stagia Math Test, as well as media services. The Test Center segment establishes test centers nationwide and provides test centers for various qualifications, certification exams, and university entrance exams. The Artificial Intelligence (AI) segment provides services and products using AI technology researched and developed in-house. The Test Operation and Outsourcing segment provides services related to test question creation, system construction, management, operation, and scoring.
EduLab, Inc. cancelled the acquisition of remaining 87.01% stake in Educational Digital Solutions, Inc. from Obunsha Co., Ltd., Eiken Foundation of Japan, Teruyuki Honda, Tomoyuki Okamoto and Satoshi Ajizaka .
EDULAB, INC. 
