J Frontier Co.,Ltd. (TSE:2934) agreed to acquire 40% stake in Griffith, K.K. from Kaneyasu Miyauchi for approximately ¥130 million on January 12, 2024. The consideration consists of ¥125.4 million in cash. As part of the consideration, ¥125.4 million was paid towards common equity.

Griffith, K.K. reported Total revenues of ¥3.91 billion, Total assets of ¥739.7 million, EBIT of ¥4.2 million, Net income of ¥1.6 million and Net liabilities of ¥17.1 million in June 30, 2023. Transaction is expected to complete on January 31, 2024.