ITOCHU Corporation (TSE:8001) agreed to acquire 90% stake in Gardia, Inc. from FreakOut Holdings, inc. (TSE:6094) for ¥200 million on December 16, 2019. As per the transaction, ITOCHU Corporation will acquire 0.02 million shares. Post completion, FreakOut Holdings, inc. will hold 2500 shares representing 10% stake in Gardia, Inc. The Board of Directors of FreakOut Holdings, inc. passed the resolution.

Agreement is planned to conclude and execute on December 17, 2019.