A financial institution based in Tokyo concluded a share transfer agreement to acquire 2.1% stake in Intimate Merger, Inc from FreakOut Holdings, inc. (TSE:6094) for approximately ¥120 million on March 25, 2019. As per the terms, FreakOut Holdings will sell 1,000 shares at ¥116,676 per share. Post acquisition, FreakOut Holdings will hold 0.03 million shares representing 70.5% stake. For fiscal year ended September 2018, Intimate Merger reported net assets ¥529 million, total assets of ¥822 million and sales of ¥1.64 billion. The transaction is expected to be completed on March 29, 2019.
A financial institution based in Tokyo cancelled the acquisition of 2.1% stake in Intimate Merger, Inc from FreakOut Holdings, inc. (TSE:6094) on March 25, 2020.