Frontier International Inc. (TSE:7050) agreed to acquire 66.7% stake in GAIA Communications Inc. for ¥330 million on December 19, 2023. As part of acquisition, 3,305 shares will be acquired. For period ended February 2023, GAIA Communications reported net assets of ¥145 million, total assets of ¥1.1 billion, sales of ¥3.9 million, operating income of ¥9 million and net income of ¥17 million.

The transaction is expected to complete on December 27, 2023.