Gaiax Co.Ltd. (NSE:3775) entered into an agreement to acquire additional 38.44% stake in LocoTabi Inc. from Yutaka Shiiya on June 19, 2020. Under the terms, Gaiax Co.Ltd will acquire 21,851 shares. Post completion, LocoTabi will become a consolidated subsidiary of Gaiax Co by holding 50.002% stake. For the period ending November 2019, LocoTabi reported sales of ¥97.3 million, operating profit of ¥56.2 million and net income of ¥59.3 million. As at November 2019, it had total assets of ¥52.4 million. As on July 19, 2020, Board of Gaiax Co resolved this transaction. This deal is expected to close on July 1, 2020. Gaiax Co.Ltd. (NSE:3775) completed the acquisition of additional 38.44% stake from Yutaka Shiiya on July 1, 2020.